Which of the Following Is True of an Employer-Employee Relationship

question 52

Multiple Choice

Which of the following is true of an employer-employee relationship?

• A) An employee has implied power of attorney towards the principal.
• B) An employee has authority to act on behalf of the principal.
• C) An employee can enter into contracts on behalf of the employer.
• D) An employee is hired to perform a physical task or service.

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Definitions:

Acres

A unit of land area used primarily in the US, equal to 43,560 square feet, or about 4,047 square meters.

Incentive Function

Describes how various economic incentives influence behaviors and decisions of individuals or organizations.

Resource Supply Schedules

Tables or charts that show the quantity of a resource that suppliers are willing to offer at various price levels.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, such as labor or capital.