What Is Real Wage

question 87

Multiple Choice

What is real wage?

• A) The level of wages earned by workers after accounting for taxes.
• B) The total wages earned by all the workers in the economy.
• C) The wage that could be earned by someone if they moved to a better job.
• D) The nominal wage that has been adjusted for in?ation.

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Definitions:

Consideration

Something of value exchanged between parties in a contract, which is necessary for the agreement to be legally binding.

Promised

Something assured by one party to another, often relating to an action, service, or condition that will take place in the future.

Invitation To Treat

An offer to negotiate or an expression of willingness to discuss a potential contract.

Offer

A proposal by one party to enter into a contract, subject to acceptable terms by another party.