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The Longer Adolph Stayed on This Job, the More He

question 47

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The longer Adolph stayed on this job, the more he hated it. He thought the boss was too demanding. He especially disliked being reprimanded for being late. One afternoon, he was asked by a secretary to take a letter to the boss for his signature. The boss had had an eye operation and was recuperating at home. Adolph got two signatures, one on the letter and one on a note promising to pay Adolph $1,000 in consideration for services rendered. The boss was not careless, but couldn't read the papers. What plea or argument, if any, could the boss use to avoid paying on the promissory note?

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Definitions:

Gross Domestic Product

The total value of all goods and services produced within a country's borders in a specific time period, used as a measure of economic performance.

Multiplier

The ratio of change in the aggregate output (or income) to the change in an initial injection of spending, demonstrating the ripple effect in the economy.

Investment Curve

A graph showing the relationship between the rate of interest and the level of investment by firms, holding other factors constant.

Interest Rate

A fee, described as a percentage of the principal, that a borrower incurs from a lender for utilizing assets.

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