What is the difference between real and nominal gross domestic product (gdp)? nominal gdp is another name of net domestic product, or ndp. nominal gdp for a given year is measured in dollars of that year, whereas real gdp is measured in dollars of some base year. nominal gdp is measured in dollars, whereas real gdp is a comparison to all other nation's production. there is no difference between real and nominal gdp. real gdp measures the expenditure of a nation, whereas nominal gdp measures the income accounts that make up those expenditure measures. nominal gdp is measured in dollars, whereas real gdp is measured in terms of some consumption commodity, such as tons of coal, available in the economy right now.

Lavage rapide is a canadian company that owns and operates a large automatic car wash facility near montreal. the following table provides data concerning the company’s costs: fixed cost per month cost per car washed cleaning supplies $ 0.70 electricity $ 1,400 $ 0.07 maintenance $ 0.15 wages and salaries $ 4,900 $ 0.30 depreciation $ 8,300 rent $ 1,900 administrative expenses $ 1,400 $ 0.03 for example, electricity costs are $1,400 per month plus $0.07 per car washed. the company expects to wash 8,000 cars in august and to collect an average of $6.50 per car washed. the actual operating results for august appear below. lavage rapide income statement for the month ended august 31 actual cars washed 8,100 revenue $ 54,100 expenses: cleaning supplies 6,100 electricity 1,930 maintenance 1,440 wages and salaries 7,660 depreciation 8,300 rent 2,100 administrative expenses 1,540 total expense 29,070 net operating income $ 25,030 required: calculate the company's revenue and spending variances for august.