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The money wage rate is the number of dollars that an hour of labor earns.

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16y ago

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If real wage rate is 10.00 per hour and the price level is 60 what is the money wage rate?

$6.00


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The minimum wage rate in a state refers to the lowest amount of money a business is allowed to pay it's employees. The minimum wage rate in California,in 2013, is $8 per hour. However, out varies county to county. For example, people that live in a town like Ukiah most likely earn the state mandated minimum wage....but people in San Francisco will earn a higher wage due to the cost of living.


How can one calculate the real wage rate?

To calculate the real wage rate, you need to divide the nominal wage rate by the price level index. This will give you the purchasing power of your wages after accounting for inflation.


How do you distinguish between money wage and real wage?

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What is differences between shadow wage rate and market wage rate?

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