What Is the Term for Wages in Dollars as Measured

question 49

Multiple Choice

What is the term for wages in dollars as measured by the amount of goods and services that the dollars buy?  

• A) real wages 
• B) inflationary wages 
• C) nominal wages 
• D) normal wages

Recognize the competitive advantages provided by strategic location decisions.

Discern the various location analysis techniques used by service organizations.

Understand how production and transportation costs influence location decisions.

Appreciate the significance of parking and access for service locations over manufacturing.

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Definitions:

Consumed

Consumed refers to the portion of resources, goods, or services that have been used up in the process of generating revenue.

Accounting Period

A specific period of time covered by financial statements, usually encompassing a fiscal quarter or year.

Contra Account

An account used in accounting to record reductions of related accounts, which has a balance opposite to the normal balance of the related account.

Unearned Rental Revenue

Income received from renters but not yet earned because the rental period has not occurred.