The famous historical example of the commitment strategy used by Cortes against the Aztecs is sometimes referred to as:
A. "friendly fire."
B. "burning your boats."
C. "putting all your eggs in one basket."
D. "burning your bridges."
Answer: B
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The value of money or income in terms of the quantity of goods the money can buy is called its
A) nominal value. B) marginal value. C) real value. D) implicit value.
In the United States, monetary policy is the responsibility of the Federal Reserve Board of Governors and the Federal Open Market Committee
a. True b. False Indicate whether the statement is true or false
If a tariff is placed on watches, the price of both domestic and imported watches will rise by the amount of the tariff
a. True b. False Indicate whether the statement is true or false
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower