Usually in the United States and other advanced economies
A) your real wage is more than your nominal wage.
B) your nominal wage is more than your real wage.
C) your real wage is the same as your nominal wage.
D) inflation increases the value of your real wage.
E) deflation usually occurs.

Question

Quizplus · Accepted Answer

In advanced economies, there is typically some level of inflation, which means prices are increasing over time. This means that the purchasing power of each dollar you earn decreases over time. Your nominal wage is the dollar amount that you earn, while your real wage is the purchasing power of that dollar amount. Therefore, in advanced economies, your nominal wage is usually higher than your real wage.

Usually in the United States and Other Advanced Economies