Philip II of Spain Had His Greatest Success with

question 27

Multiple Choice

Philip II of Spain had his greatest success with

• A) maintaining the Netherlands as a Catholic stronghold.
• B) incorporating all of Italy into his empire.
• C) defeating the Ottoman Turks in the Mediterranean.
• D) maintaining a close relationship with England despite his fruitless courting of Queen Elizabeth.
• E) extracting as much gold and silver from the New World as was available.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Price Elasticity

The determination of how price alterations influence the market demand for a commodity.

Marginal Value

The additional satisfaction or utility received by consuming one more unit of a good or service.

Consumer's Demand

The desire of purchasers, users, or consumers for specific goods or services at a given price over a specified period.