A Subagent Is an Agent of an Agent, Not an Agent

question 276

True/False

A subagent is an agent of an agent, not an agent of the principal, so owes no duty to the principal, only to the agent.

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Definitions:

Real Exchange Rate

A measure of the value of one currency against another, adjusted for inflation differences between the two countries.

Exchange Rate

The rate at which one currency can be exchanged for another, typically used in international trade and finance.

Purchasing-Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach to determine the relative value of each currency.

Nominal Exchange Rates

The speed at which one form of money is traded for a different type of money, without taking inflation into account.