Real GDP Equals Nominal GDP

question 56

Multiple Choice

Real GDP equals nominal GDP

• A) minus exports.
• B) corrected for changes in the price level.
• C) minus personal income taxes.
• D) minus retail sales taxes.

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Definitions:

Net Float

The difference between checks written against and deposited in an account, which affects the balance available in the account.

Collection Float

The time period between when a payment is made by a customer and when the funds become available in the company's account.

Mail Float

The time gap between when a payment is sent via mail and when it is received and processed, affecting the time when the funds become available.

Processing Float

The time difference between when a check is written and when it is actually cleared and funds are deducted from the account.