The Writings of G

question 169

Multiple Choice

The writings of G.MacDougall emphasized which of the following as an explanation of a country's competitive position?

• A) National income levels
• B) Relative endowments of natural resources
• C) Domestic tastes and preferences
• D) Labor compensation and productivity levels

Understand the legal implications of negligent hiring and the principle of respondeat superior.

Distinguish between employees and independent contractors based on legal definitions and implications.

Recognize the legal authority and responsibilities of agents acting on behalf of principals.

Identify the legal doctrines related to employment, including employment at will and exceptions to it.

---

Definitions:

Capital Lease

A lease agreement that transfers substantially all the risks and benefits of ownership to the lessee, effectively treated as a purchase by the lessee.

Unguaranteed Residual Value

The estimated future value of an asset at the end of its lease term that is not guaranteed by the lessee or a third party.

Lease Obligation

A financial commitment to make future payments under a lease agreement.

Sales-leaseback Transaction

A financial arrangement where one sells an asset and immediately leases it back from the buyer, effectively freeing up cash while retaining the use of the asset.