If There Is No Agreement About the Amount of Compensation,the

question 31

True/False

If there is no agreement about the amount of compensation,the law implies a promise that a principal will pay the agent the customary fee paid in the industry.

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Definitions:

Government Purchases

Expenditures by government entities on goods and services that are used to provide public services or to benefit the country's economy.

Federal Reserve

The central banking system of the United States, responsible for monetary policy, regulation of the banking industry, and stability of the financial system.

Interest Rates

The cost of borrowing money or the return on invested capital, expressed as a percentage of the principal, affecting economic activity by influencing spending and saving behaviors.

Unemployment

The situation in which individuals who are capable of working and are seeking work are unable to find employment.