A nominal wage is
A)not above the legal minimum
B)always above the legal minimum
C)measured in terms of goods and services it can buy
D)measured in current dollars rather than in constant dollars
E)measured in constant dollars rather than in current dollars

Question

Quizplus · Accepted Answer

Nominal wage refers to the actual amount of money paid to an employee. It is measured in current dollars rather than constant dollars because it represents the dollar value at the time of payment. Constant dollars, on the other hand, adjust for inflation and give the value of money in a previous time period.

A Nominal Wage Is