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iwire and hurk:
I believe you have misunderstood what I was trying to say.
In todays time I believe the nominal unloaded design goal for power system voltage at the destination is 120 V. This in turn means that equipment designed to operate on this system would have nominal voltage design criteria of 120 V, or maybe offset a little.
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I think the above is generally accepted.
In the areas that require compensating for voltage drop the requirements are often part of energy savings codes. That being the case you would have to upsize the conductors to reduce the losses.