Net Exports of Goods and Services Are Defined as the

question 34

Multiple Choice

Net exports of goods and services are defined as the

• A) value of exports minus the income we receive from foreigners.
• B) income we receive from selling goods to foreigners.
• C) value of exports plus the income we receive from foreigners.
• D) value of the goods we sell to foreigners.
• E) value of exports minus the value of imports.

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Definitions:

Andrew Carnegie

A Scottish-American industrialist and philanthropist who led the expansion of the American steel industry in the late 19th century.

John D. Rockefeller

An American industrialist and philanthropist, best known for his role in the development and expansion of the U.S. oil industry.

Mass Production

The manufacture of large quantities of standardized products, often using assembly lines or automated technology, which significantly reduces the production cost per unit.

Early 1950s

A period marked by post-World War II recovery and growth, the beginning of the Cold War, and significant social and economic changes worldwide.