Consider the Following Information About the Price and the Price

question 109

Multiple Choice

Consider the following information about the price and the price index of a popular book over three years. If the price index in 2011 was 95,which of the following is the percent change in the price of the book between 2010 and 2011?

• A) -12.04%
• B) -5%
• C) -2.53%
• D) -13%

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Definitions:

Apparent Authority

The appearance or assumption of authority based on the actions or declarations of another, leading third parties to believe a person has the authority to act on behalf of an entity.

Express Authority

Explicit permission given by a principal to an agent to act on their behalf.

Advance Payment

A prepayment made before the actual due date or before receiving the goods or services it is meant for.

Terminated Agency

The end of a legal relationship between a principal and an agent, where the agent can no longer act on behalf of the principal.