A Declaration of War

question 49

Multiple Choice

A declaration of war:

• A) can be enacted by both state and federal governments.
• B) can be enacted only by the national government.
• C) can be enacted only by state governments.
• D) is prohibited by the U.S. Constitution.

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Definitions:

Real Option

A managerial flexibility embedded in investment projects, representing the right, but not the obligation, to undertake certain business decisions, such as expanding, abandoning, or delaying a project.

Expansion Option

A strategic investment choice that gives a company the option but not the obligation to expand its operations or invest in new projects if market conditions are favorable.

Monte Carlo Simulation

A computational technique that uses random sampling to obtain numerical results, often used to assess risk and uncertainty in financial and project management.

Subjective Estimates

Assessments or judgments made that rely on personal feelings, tastes, or opinions rather than external observable phenomena.