The nominal wage represents:
A)the wage measured in terms of the quantity of goods and services a worker can purchase with it.
B)the wage measured in terms of the dollar value of the goods and services a worker can purchase with it.
C)the real wage from which personal taxes has been deducted.
D)the standard of living of workers across time.
E)the change in real wage brought about by changes in aggregate supply.

Question

Quizplus · Accepted Answer

The nominal wage is the wage measured in terms of the dollar value of the goods and services a worker can purchase with it, reflecting the amount of money received per hour, day, or year, without adjusting for inflation or changes in purchasing power.

The Nominal Wage Represents