Apparent Authority Exists If a Principal Causes a Third Party

question 46

True/False

Apparent authority exists if a principal causes a third party to believe reasonably that an agent has authority to act.

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Definitions:

Unemployment

The condition of being without a job, while actively looking for one and being willing to work.

Minimum-wage Laws

Legislation that sets the lowest hourly wage rate that can be paid to workers, intended to protect employees from unduly low pay.

Labor Force

The total number of people employed and unemployed, actively seeking work in an economy.

Equilibrium Level

The state in which market supply and demand balance each other, resulting in stable prices and quantities.