What Is Real Wage

question 167

Multiple Choice

What is real wage?

• A)It is equal to nominal wage plus the price level.
• B)It is equal to the nominal wage minus the price level.
• C)It is equal to the nominal wage multiplied by the price level.
• D)It is equal to the nominal wage divided by the price level.

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Definitions:

Employee Retirement Income Security Act

A national regulation establishing basic requirements for the majority of privately initiated pension and health schemes in the private sector, aimed at safeguarding participants in these programs.

Drug-Free Workplace Act

A U.S. federal law that requires some employers to maintain a work environment free from the illegal use of drugs.

Fair Labor Standards Act

U.S. legislation that establishes minimum wage, overtime pay, recordkeeping, and child labor standards.

Vocational Rehabilitation Act

Federal legislation aimed at assisting individuals with disabilities in preparing for and engaging in gainful employment.