A General Agent

question 19

Multiple Choice

A general agent:

• A) has a limited range of implied authority than a special agent.
• B) is authorized by the principal to do a specific act.
• C) is an agent who does not possess the authority to contract on behalf of the principal.
• D) acts for the principal in a number of transactions over a period of time.

---

Definitions:

GDP

Gross Domestic Product, a measure of the economic output of a country, representing the total value of all goods and services produced over a specific time period.

Keynesian Economists

Economists who believe that demand-side factors are critical in determining the level of economic activity, advocating for government intervention to manage demand.

Macroeconomic Policy

Strategies and actions taken by a government or central bank to regulate and control the economy as a whole, including fiscal and monetary policies.

Full Employment

When a society’s resources are all being used with maximum efficiency.