Nominal GDP Was $5 803 Billion in 1994 and $11

question 199

True/False

Nominal GDP was $5 803 billion in 1994 and $11 734 billion in 2008,we can conclude that aggregate output roughly doubled over the 14-year period.

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Definitions:

Incremental Cost Approach

A method that analyzes the financial information relevant to a decision by focusing on the additional or incremental costs involved.

Discount Rate

The interest rate used in discounted cash flow analysis to calculate the present value of future cash flows.

Salvage Value

The estimated residual value of an asset after it has reached the end of its useful life.

Overhaul Costs

Overhaul costs are the expenses associated with major maintenance or the complete refurbishing of equipment, machinery, or a facility to extend its life and efficiency.