A Mercantile Agent Is an Agent Who

question 61

Multiple Choice

A mercantile agent is an agent who:

• A)Is authorised to act on behalf of the principal in commercial matters.
• B)Sells the principal's property in the agent's own name.
• C)Is authorised to act on behalf of the principal in private matters.
• D)Sells the principal's property in the principal's name.

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Definitions:

Excise Taxes

Taxes paid when purchases are made on a specific good, such as gasoline or tobacco, often included in the price of the product.

Transfer Payments

Payments made by the government to individuals for which no goods or services are required in return, such as welfare benefits and pensions.

Government Spending

Expenditures by the government sector on goods and services, including salaries of public servants, public investments, and social benefits.

Great Recession

A severe global economic downturn that took place from late 2007 through mid-2009.