It's not. Unless you add a direction to speed it will not become velocity. Since positive and negative are sometimes used to denote direction, absolute value of velocity may equal speed (certain situations)
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Velocity is a vector. The magnitude of the velocity - its absolute value - is its speed.
Velocity is a vector and its magnitude depends on the direction. If it is positive in one direction, going in the opposite direction it is negative. But speed is a scalar and does not depend on the direction. It has the same value, whatever the direction. That is how the absolute value of velocity is speed.
For the instantaneous value of average velocity, average speed and average velocity are equal.
Acceleration is zero since 55 mph is velocity and it is constant. Acceleration is defined as the rate of change in velocity. The speed is the absolute value of velocity so it is also 55.
equal
the absolute value of negative 7 is 7 and the absolute value of 7 is also seven so they are equal. Therefore, the absolute value of negative 7 is not less than the absolute value of 7. Remember that absolute value means the positive of a number