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In the U.S. National Income and Product Accounts, nominal GDP is called GDP in current dollars (that is, in prices current for each designated year), and real GDP is called GDP in [base-year] dollars (that is, in dollars that can purchase the same quantity of commodities as in the base year).
The difference is between actual prices paid, and information about possible, potential or likely prices, or "average" price levels. [2] This distinction should not be confused with the difference between "nominal prices" (current-value) and "real prices" (adjusted for price inflation, and/or tax and/or ancillary charges). [ 3 ]
The difference between the two represents the GDP gap. [2] IMF estimates of the 2009 output gaps as % of GDP by country. The GDP gap or the output gap is the difference between actual GDP or actual output and potential GDP, in an attempt to identify the current economic position over the business cycle.
Sales variance is the difference between actual sales and budgeted sales. [1] It is used to measure the performance of a sales function, and/or analyze business results to better understand market conditions.
When you know the difference between your available balance and your current balance, you have a better understanding of your finances and can avoid costly penalties for overdrawing your account ...
Difference between the amount of labor time that should have been used and the labor that was actually used, multiplied by the standard rate. For example, assume that the standard cost of direct labor per unit of product A is 2.5 hours x $14 = $35. Assume further that during the month of March the company recorded 4500 hours of direct labor time.
It’s pretty common for the current balance to be higher than the statement balance. Let’s say your credit card company issued your statement on July 31, and the statement balance was $600.
Making a mistake between your current and available balance, for example, could cause you … Continue reading → The post Current Balance vs. Available Balance appeared first on SmartAsset Blog.