The Gulf of Tonkin Resolution

question 24

Multiple Choice

The Gulf of Tonkin resolution

• A) was a nonbinding measure that passed both the House and Senate, calling for peace negotiations between North and South Vietnam.
• B) was opposed by the majority of lawmakers in Congress.
• C) authorized a ground invasion by U.S. troops into North Vietnam.
• D) authorized the president to take "all necessary measures to repel armed attack" in Vietnam.
• E) outlined attack and exit strategies in South Vietnam.

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Definitions:

Markup Percentage

The percentage added to the cost of goods to determine the selling price, reflecting the profit margin on sales.

Variable Costs

Costs that change in proportion to the level of goods or services produced by a business.

Rate of Return

A measure of the profitability or efficiency of an investment, expressed as a percentage of the original investment.

Variable Cost Concept

A principle in economics that refers to costs that vary directly with the level of production or service activity.