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  2. Lumber - Wikipedia

    en.wikipedia.org/wiki/Lumber

    In 1961, at a meeting in Scottsdale, Arizona, the Committee on Grade Simplification and Standardization agreed to what is now the current U.S. standard: in part, the dressed size of a 1-inch (nominal) board was fixed at 3 ⁄ 4 inch; while the dressed size of 2 inch (nominal) lumber was reduced from 1 + 5 ⁄ 8 inch to the current 1 + 1 ⁄ 2 ...

  3. Real versus nominal value - Wikipedia

    en.wikipedia.org/wiki/Real_versus_nominal_value

    Real versus nominal value. The distinction between real value and nominal value occurs in many fields. From a philosophical viewpoint, nominal value represents an accepted condition, which is a goal or an approximation, as opposed to the real value, which is always present.

  4. Board foot - Wikipedia

    en.wikipedia.org/wiki/Board_foot

    Here, the actual length is used. Note: see dimensional lumber for a full discussion of the relationship of actual and nominal dimensions. Briefly, for softwoods, to convert nominal to actual, subtract 1 ⁄ 4 inch (6 mm) for dimensions under 2 inches; subtract 1 ⁄ 2 inch (13 mm) for dimensions over 2 inches and under 8 inches; and subtract 3 ...

  5. Real and nominal value - Wikipedia

    en.wikipedia.org/wiki/Real_and_nominal_value

    The real value is the value expressed in terms of purchasing power in the base year. The index price divided by its base-year value gives the growth factor of the price index. Real values can be found by dividing the nominal value by the growth factor of a price index. Using the price index growth factor as a divisor for converting a nominal ...

  6. Real prices and ideal prices - Wikipedia

    en.wikipedia.org/wiki/Real_prices_and_ideal_prices

    Real prices and ideal prices. The distinction between real prices and ideal prices is a distinction between actual prices paid for products, services, assets and labour (the net amount of money that actually changes hands), and computed prices which are not actually charged or paid in market trade, although they may facilitate trade. [1]

  7. Geometric dimensioning and tolerancing - Wikipedia

    en.wikipedia.org/wiki/Geometric_dimensioning_and...

    Example of true position geometric control defined by basic dimensions and datum features. Geometric dimensioning and tolerancing (GD&T) is a system for defining and communicating engineering tolerances via a symbolic language on engineering drawings and computer-generated 3D models that describes a physical object's nominal geometry and the permissible variation thereof.

  8. Nominal number - Wikipedia

    en.wikipedia.org/wiki/Nominal_number

    Nominal number. Nominal numbers are numerals used as labels to identify items uniquely. Importantly, the actual values of the numbers which these numerals represent are less relevant, as they do not indicate quantity, rank, or any other measurement. Labelling referees Smith and Kumar as referees "1" and "2" is a use of nominal numbers.

  9. Real gross domestic product - Wikipedia

    en.wikipedia.org/wiki/Real_gross_domestic_product

    Real gross domestic product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation). [1] This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely ...

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