Unless Otherwise Agreed, an Agent Making a Contract for a Partially

question 18

True/False

Unless otherwise agreed, an agent making a contract for a partially disclosed principal is a party to the contract.

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Definitions:

Firms

Businesses or economic entities engaged in commercial, industrial, or professional activities.

Substitution Bias

The distortion in calculating inflation that occurs when consumers switch their spending from higher-priced goods to lower-priced alternatives.

CPI

CPI, or Consumer Price Index, measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Cost Of Living

refers to the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain location and time period.