If a checkmark is not present beside this menu item, it means the application is in "screen" mode. That is, you have a screen-sized page area to work with.

If this option is checked, the application is in page layout mode; the page is sized according to the current printer's page setup. This option allows you to format the objects to the printed page instead of the screen.
 

Note:

The first time you switch (from screen view to page view) you will be asked if you want to resize the objects. If you choose Yes, the objects will be resized. If you decide to switch back to screen mode (uncheck Page Layout View), the layout will not be the same as before. The new layout is smaller, i.e. the graphs and tables take up less of the page space.