GNP measures a country’s economic activity globally, while GDP only measures activity within its borders. Nominal GNP is expressed in the currency value of the year measured, while real GNP uses a common currency year. GNP includes income earned by citizens abroad and investments abroad. Nominal GNP can’t be accurately compared due to inflation, so […]
Rated load is the maximum weight an equipment can handle. Nominal loads are determined by standardized equipment and testing. It is recommended to use equipment with load rating that exceeds maximum capacity. Load ratings are important for structures and equipment, and companies are required to disclose them truthfully. Rated load is the heaviest load for […]
Nominal Pipe Size (NPS) is a standardized measurement used in North America to describe pipe size, while other regions use the metric nominal diameter (DN) measurement system. The “schedule” of a pipe refers to the thickness of the walls, which can impact the inside diameter. Nominal tube size information can be printed on a tube […]
A noun group is a unit used as a noun in English, consisting of a head, premodifiers, and postmodifiers. The order of words conveys meaning through rank-shifting. Noun groups are used throughout sentences and can be joined together. A noun group is a grammatical unit or group that can be used as a noun in […]
GDP measures the total value of goods and services in an economy over a period of time. Real GDP considers the effects of inflation, while nominal GDP does not. Real GDP is adjusted to reflect the difference in value due to inflation, resulting in a lower figure than nominal GDP. Gross Domestic Product (GDP) involves […]
Nominal capital is the amount of capital a company can offer to shareholders in the form of shares, regulated by government agencies. Companies usually offer only a portion of their nominal capital, and may issue additional shares later to increase the market value of shares. This protects the company’s other assets if shares fall below […]
The nominal group technique is an alternative to traditional voting methods that allows each participant to provide a solution and reasoning. It encourages discussion among group members and can result in a solution that includes ideas presented by each participant. Critics believe it is ineffective at dealing with complex problems and requires too much structure. […]
Nominal interest rates and inflation affect a nation’s currency purchasing power. Inflation erodes the nominal rate, and the real interest rate is calculated by subtracting inflation from the nominal rate. In a free market economy, interest rates are set by the market, and financial institutions offer nominal rates based on various factors. Unnatural inflation occurs […]
Nominal GDP measures total output in a country using the current currency, while real GDP adjusts for inflation. Nominal GDP can be calculated using the production, expenditure, or income method. Real GDP is useful for comparing economic output over time, and GDP per capita can indicate average productivity changes per worker. A nominal gross domestic […]
Nominal aphasia is a language impairment caused by brain injury, resulting in difficulty remembering names or words. Patients may use indirect language to describe objects they can’t remember. The condition is not associated with loss of intelligence or memory, and can affect different types of word recall. Another type of nominal aphasia, called averbia, results […]
