When US Exports Are Greater Than U

question 91

True/False

When U.S. exports are greater than U.S. imports, the U.S. economy is said to have a balance-of-trade deficit.

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Definitions:

Loss

The amount of money a business loses when its expenses exceed its revenues.

Sale

The exchange of goods or services for money, representing a fundamental activity of business operations.

Plant Asset

Long-term tangible assets used in the operations of a business that are not intended for resale, such as machinery, buildings, and vehicles.

Income Statement

A financial document that shows a company's revenues, expenses, and net income over a specific period of time.