An Import Quota Is a Limit on the

question 374

Multiple Choice

An import quota is a limit on the

• A) number of foreign workers allowed to work in a country.
• B) number of container ships allowed to enter the territorial waters of the United States.
• C) value of low-priced foreign goods that are allowed to be imported into the United States.
• D) amount of a product that may be imported.

Distinguish between disclosed, partially disclosed, and undisclosed principals and the legal implications of each status.

Comprehend the effects of termination of agency on the authority and liability of the agent.

Recognize the conditions under which a principal can ratify unauthorized acts of an agent.

Learn about the principles governing liability for tortious acts committed by agents.

---

Definitions:

Present Value

The current value of a future sum of money or stream of cash flows given a specified rate of return, used in discounting to account for the time value of money.

Future Cash Receipts

Expected incoming cash flows from business operations, investments, or other sources.

Callable Bonds

Securities that the issuer has the right to repurchase before they reach their due date, for a predefined amount.

Market Rate

The prevailing rate of interest available in the marketplace for securities of similar risk and maturity.