In your own words, describe a principal-agent relationship. Cite two examples each of explicit and nonexplicit principal-agent relationships.

Multiple choices are:

a principal makes a decision that affects an agent
		an agent makes a decision that affects a principal
		an employee acting on behalf of its employer can be viewed as an agent
		a lawyer acting on behalf of its client can be viewed as a principal
		A and B
		A and C
		A and D
		B and C
		B and D
		C and D
		all but A
		all but B
		all but C
		all but D
		all are true