The Nominal Wage Is _____

question 80

Multiple Choice

The nominal wage is _____

• A) always equal to the legal minimum wage.
• B) the same as the efficiency wage.
• C) measured in terms of the amount of goods and services it can purchase.
• D) measured in current dollars rather than in constant dollars.
• E) measured in constant dollars rather than in current dollars.

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Definitions:

Recognizance

An obligation in which a party acknowledges in court that he or she will perform some specified act and/or pay a price on failure to do so.

Bail

A thing of value, such as a money bail bond or any other form of property, that is given to the court to allow a person’s temporary release from jail and to ensure his or her appearance in court.

Offeree

A person or entity to whom an offer is made, which they can either accept or reject.

Offeror

The individual or party that presents a proposal or contract to another party for acceptance.