The wage paid to workers measured in terms of real purchasing power is called the

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The real wage is the wage paid to workers measured in terms of real purchasing power, meaning it takes into account changes in the cost of living and inflation. The nominal wage (choice A) is the wage paid to workers in current dollars without adjusting for changes in prices over time. The cost of living (choice B) refers to the amount of money needed to maintain a certain standard of living, which can affect the real wage but is not the same thing. The minimum wage (choice C) is a legal floor on wages paid to certain workers, but again is not the same thing as the real wage. Effective wage (choice E) is not a commonly used term in economics and does not accurately describe the concept in question.

The Wage Paid to Workers Measured in Terms of Real