Examlex
Provide an appropriate definition of a note.
Nominal Wage Rates
The amounts of money paid to workers before adjustments for inflation.
Price Level
A measure of the average prices of goods and services in an economy at a given time, often reflected in a price index.
Real Wages
Wages adjusted for inflation, reflecting the true purchasing power of the earnings of the workforce.
Nominal Wage
The amount of money paid to employees without adjustment for inflation or purchasing power.
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