____ Takes Place When the Principal Behaves as If He

question 393

Multiple Choice

____ takes place when the principal behaves as if he has the intent of ratifying an unauthorized agreement.

• A) implied ratification
• B) real ratification
• C) delayed ratification
• D) express ratification
• E) explicit ratification

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Definitions:

Corrective Tax

Levies imposed to address and ameliorate the negative externalities generated by certain economic activities, thereby realigning social and private costs.

Subsidy

A financial contribution granted by the government or a public body to support businesses, reduce the price of commodities, or encourage activities beneficial to the public interest.

Equilibrium Number

When market demand equals supply, leading to stability in prices.

Pollution Permits

Licenses that allow the holder to emit a specific amount of pollutants into the environment, used in regulatory strategies to reduce pollution.