One Important Consequence of the Defeat of the Spanish Armada

question 38

Multiple Choice

One important consequence of the defeat of the Spanish Armada was that

• A) England found the seas more open to their control.
• B) the Reformation extended into Spain.
• C) Spain was forced to relinquish its New World empire.
• D) Catholicism was swept from western Europe.
• E) France came to dominate Spain.

---

Definitions:

MB = MC Decision Framework

A decision-making process where an action is taken if the marginal benefit (MB) is equal to or greater than the marginal cost (MC).

Interest-Rate Cost-of-Funds Curve

A graphical representation displaying the relationship between interest rates and the total cost of funds to a lending institution.

Marginal Cost Element

The increase in total cost that arises from producing one additional unit of a good or service.

MB = MC Decision Framework

A principle in economics where optimal decision-making is achieved when the marginal benefit (MB) of an action equals its marginal cost (MC).