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the wage measured in dollars of constant purchasing power; the wage measured in terms of the quantity of good and services it buys.
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The real wage will rise if the nominal wage?
The real wage is the amount of money paid when adjusted for inflation. This wage will rise if the nominal wage rises.
What is the difference between 'real wage' and 'nominal wage'?
blAH BLAH BLHA
If real wage rate is 10.00 per hour and the price level is 60 what is the money wage rate?
$6.00
If the price level rises and the money wage rate rises by the same percentage what happens to the quantity of real GDP supplied?
When the price level and the money wage rate change by the same percentage, the real wage rate remains constant at its full employment equilibrium level so employment remains constant and real GDP remains constant at "potential GDP" which is the quantity of real GDP at full employment.
What determines the amount of labor that households plan to supply?
In most models, it is primarily the real wage rate.
How do you distinguish between money wage and real wage?
Real Wage = Money Wage / Price Index Real wage measures purchasing power, that is what an hour's labor can buy.
The real wage will rise if the nominal wage?
The real wage is the amount of money paid when adjusted for inflation. This wage will rise if the nominal wage rises.
How is real wages measured?
real wage is
What is the difference between 'real wage' and 'nominal wage'?
blAH BLAH BLHA
What city does Real Madrid represent?
Real Madrid represent Madrid, Spain.
What is a real wage?
individual's actual purchasing power
If real wage rate is 10.00 per hour and the price level is 60 what is the money wage rate?
$6.00
The main determinant of real wage is?
purchasing power of maney
Give number that represent real number?
2 is a real number.
HOW Can you use absolute to represent a negative number in a real-world situation?
use a absolute value to represent a negative number in the real world
If the price level rises and the money wage rate rises by the same percentage what happens to the quantity of real GDP supplied?
When the price level and the money wage rate change by the same percentage, the real wage rate remains constant at its full employment equilibrium level so employment remains constant and real GDP remains constant at "potential GDP" which is the quantity of real GDP at full employment.
How can you use absolute value to represent a negative number in a real-world situation?
use a absolute value to represent a negative number in the real world
