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If real GDP and the GDP deflator both rise, then it must be that nominal GDP rose.
Lifetime Learning Credit
A tax credit that helps pay for undergraduate, graduate, and professional degree courses, including courses to acquire or improve job skills.
Degree Program
A course of study at a college or university that leads to the attainment of a specific academic degree, such as a bachelor's or master's degree.
Foreign Tax Credit
A tax credit that allows taxpayers to offset income tax paid to foreign countries against their U.S. tax liability to avoid double taxation.
U.S. Income Tax
A charge imposed by the U.S. federal government on the yearly income of individuals, companies, trusts, and various legal bodies.
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