From 1950 to 2015

question 10

Multiple Choice

From 1950 to 2015

• A) the U.S. economy roughly tripled in size.
• B) U.S. imports roughly tripled in size.
• C) the share of U.S. trade in the global economy roughly tripled in size.
• D) U.S. imports roughly tripled as compared to U.S. exports.
• E) U.S. exports roughly tripled in size.

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Definitions:

Total Revenue

The total amount of money a firm receives from sales of its products or services before any expenses are subtracted.

Quantity Sold

The total number of units of a product or service that have been purchased by consumers during a specific period.

Profit-Maximizing

The method or approach of modifying production and pricing to secure the maximum achievable profit.

Total Revenue

The total amount of money a firm receives from sales of its products or services, calculated by multiplying the price per unit by the number of units sold.