A Gratuitous Agent Is

question 30

Multiple Choice

A gratuitous agent is:

• A)an agent who is not known to the principal.
• B)an agent who is not paid by the principal.
• C)required to exercise a higher standard of care than a professional agent.
• D)an agent who is not an employee of the principal.

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Definitions:

Gross Savings

The total amount of savings generated within an economy, including personal, business, and government savings, before accounting for depreciation.

Net Investment

The total spending on new capital minus the replacement of depreciated capital, indicating the actual increase in a company's or nation's capital stock.

GDP

GDP, or Gross Domestic Product, measures the total value of all goods and services produced within a country's borders over a specific time period, reflecting the size and health of its economy.

Imports

Goods and services bought by a country from foreign countries, which can range from raw materials to finished products.