Which of the Following Is Not True About the U

question 203

Multiple Choice

Which of the following is not true about the U.S.trade balance since 1979?

• A)The balance of trade has been in deficit.
• B)During recessions the balance has usually been flat.
• C)The balance of trade has been in surplus.
• D)When the economy expanded, the demand for imports increased.
• E)When the economy expanded, the trade balance worsened.

---

Definitions:

Financial Statements

Reports that provide detailed information about a company's financial status, including balance sheets, income statements, and cash flow statements.

Operating Lease

An agreement enabling a party to rent an asset without the intention or requirement to purchase it at the end of the lease term.

Lessee's Income Statement

An income statement showing the financial results of a lessee's operations, including the impact of leasing costs.

Rent Expense

An operating expense incurred for the use of property or equipment, recognized over the period of the lease agreement.