Examlex
Find the reference number for
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Nominal Wages
The amount of money paid to an employee before adjustments for inflation; the face value of wages.
Real Wage
The purchasing power of wages, taking into account the effect of inflation on purchasing power.
Nominal Wage
The wage paid to employees in current dollars without adjustment for inflation, reflecting the actual amount of money received.
General Price Level
An index that shows the average price of goods and services across the economy over a period of time.
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