How would you describe "an increase in real wages"?
A) an increase in wages over the Consumer Price Index
B) an increase in wages and benefits
C) an increase in the monetary proportion of the compensation package
D) an increase in collectively bargained wages

Question

Quizplus · Accepted Answer

An increase in real wages refers to a situation where wages increase at a rate higher than the rate of inflation, as measured by the Consumer Price Index (CPI). This means that the purchasing power of the wages increases, allowing individuals to buy more goods and services than before.

How Would You Describe "An Increase in Real Wages