The Authority Given by the Principal to an Agent, Conferring

question 93

Multiple Choice

The authority given by the principal to an agent, conferring on the agent the power and right to change the principal's legal status is referred to as:

• A) actual authority
• B) authority in rem
• C) authority at law
• D) general authority
• E) special authority

---

Definitions:

Rate of Inflation

The rate of inflation is the annual percentage increase in the overall price level of goods and services in an economy over a period of time.

Unemployment Rate

The percentage reflecting those who are in the labor force and are not employed, yet are seeking employment.

Cost-push Inflation

Inflation caused by an increase in prices of inputs like labour, raw material, etc. It’s when the supply side of the economy’s production function becomes more expensive.

Demand-pull Inflation

Inflation that occurs when the demand for goods and services exceeds their supply, leading to an increase in prices.