After 1945, World Trade

question 39

Multiple Choice

After 1945, world trade:

• A) grew more slowly than in the decade before World War II.
• B) grew more rapidly than in the decade before World War II.
• C) grew in absolute dollar terms but not as a ratio of GDP.
• D) fell both in absolute and relative terms.

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Definitions:

Net Income

The earnings a company retains following the deduction of all costs and taxes from its revenue.

Rent Expense

The cost incurred by a business to use property or equipment for business purposes.

Income Statement

A financial document that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net income.

Balance Sheet

A record that presents a summary of a business's assets, liabilities, and shareholders' equity at a given time.