If Variables X and Y Move Up and Down Together

question 150

Multiple Choice

If variables x and y move up and down together, they are

• A)positively related.
• B)conversely related.
• C)negatively related.
• D)trendy.
• E)unrelated.

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Definitions:

Disclosed Principal

A principal whose identity is known to a third party at the time the agent makes a contract with the third party.

Liable

Legally responsible or obligated, often in reference to the duty to compensate for harm or loss caused by one's actions or omissions.

Scope of Authority

The scope of authority delineates the range of actions or decisions that an individual or entity, such as an employee or agent, is officially empowered to make on behalf of another party or organization.

Undisclosed Principal

A situation in an agency relationship where the identity of the principal is not revealed to the third party by the agent.