Real wage is:
A)real money.
B)income.
C)the purchasing power of an hour's work, or the money wages divided by the cost of living.
D)income from capital.
E)none of the above.

Question

Quizplus · Accepted Answer

Real wage is defined as the purchasing power of an hour’s work, which means it is not just the money earned, but also takes into account the cost of living in a particular region. Real wage reflects the actual worth of an hour of work in terms of goods and services that can be purchased with it.

Real Wage Is