Examlex
Which of the following represents the expectations-augmented Phillips curve?
Express Authority
The power granted to an agent or entity explicitly and clearly by the principal or by law.
Actual Authority
The power granted to an agent by a principal to legally bind the principal in transactions with third parties.
Principals
The parties who are directly involved and have the major interests in a legal transaction or agreement.
Contractual Relationship
An agreement between entities, enforced by law, that outlines obligations and benefits for each party.
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