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What else can I help you with?
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.
What is the difference between an LCA salary and an actual salary?
An LCA salary is the wage listed on a Labor Condition Application, which is a document filed by employers for hiring foreign workers. An actual salary is the real wage paid to an employee, which may be different from the LCA salary due to negotiations, bonuses, or other factors.
What is the starting wage at guess clothing store?
Worked there for about year and it pays 6.50 minimum wage.
What was the minimum wage in 1992?
In 1992, the federal minimum wage was approximately $4.25 per hour. As of June 2014, the federal minimum wage is $7.25 per hour.
What year did federal minimum wage go into effect?
The federal minimum wage first went into effect in 1938. At that time, Congress set the minimum wage at 25 cents per hour.
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
Can a persons money wage decrease at the same time their real wage increases?
Yes, a person's money wage can decrease while their real wage increases if the rate of inflation decreases faster than the reduction in their nominal wage. For example, if a worker's nominal wage drops by 2% but the inflation rate falls by 5%, the purchasing power of their earnings—real wage—can increase despite the nominal wage decrease. This situation highlights the distinction between nominal and real wages, where real wages reflect the buying power of income adjusted for inflation.
What is the difference between 'real wage' and 'nominal wage'?
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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.
What does the real wage represent?
the wage measured in dollars of constant purchasing power; the wage measured in terms of the quantity of good and services it buys.
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
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 is the real wage bill?
The total amount of wages received by a country corrected by inflation. Is basically the average monthly wage multiplied by the number of people in the labor force.
What is the real wage of congress after you figure in their benefits that the tax payers pay yearly?
Way to much !
