In the Past, When the United States Enjoyed a Continuing

question 122

Multiple Choice

In the past, when the United States enjoyed a continuing trade surplus, wages in the United States

• A)were much lower than wages in countries that imported U.S.products.
• B)were much higher than wages in countries that imported U.S.products.
• C)were roughly the same as wages in countries that imported U.S.products.
• D)fell throughout that period, enabling the continuing trade surplus.
• E)rose throughout that period, ending the trade surplus.

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Definitions:

Commercial Substance

A transaction's capability to change the future cash flows of a business in a way that is measurable.

Old Machine

A piece of equipment that has been in use for a significant period and may be near or beyond its expected useful life.

Depletion

The allocation of the cost of a natural resource over its useful life as it is consumed or mined.

Ore Mined

The quantity of valuable mineral or material extracted from the earth.