Nominal GDP Measures Output of Final Goods and Services in Physical

question 66

True/False

Nominal GDP measures output of final goods and services in physical terms.

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Definitions:

Bank's Obligation

The responsibilities and duties a bank owes to its customers, such as safeguarding deposits and honoring withdrawals.

Authorization

The formal permission or power granted to do something or to validate a transaction.

Cashier's Check

A check issued by a bank, drawn on its own funds rather than that of an individual account holder, offering a secure way of payment.

Certified Check

A check for which the issuing bank guarantees the availability of funds by verifying the account balance and then setting aside the check amount for payment.