His real salary has fallen and his nominal salary has risen.
An assistant manager at a restaurant gets a $100 a month raise. He figures that with his new monthly salary he cannot buy as many goods ans services he could buy last year.

Question

24-11-2022
Business

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His real salary has fallen and his nominal salary has risen.
An assistant manager at a restaurant gets a $100 a month raise. He figures that with his new monthly salary he cannot buy as many goods ans services he could buy last year.

Respuesta :

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tutorconsortium112 tutorconsortium112 · Answer 1 · 2022-11-29T06:32:27+01:00

The nominal earnings are broken down by economic price level in real pay. Real salaries will increase if the price level declines and nominal earnings remain unchanged.

What do real wages and nominal wages mean?

The nominal earnings are broken down by economic price level in real pay. If nominal wages remain unchanged.
The cash you receive from an employer in exchange for your labor is referred to as a nominal wage or a money wage. Nominal wages are not indexed for inflation.
A real wage, on the other hand, is a wage that has been increased to account for inflation. Your purchasing power will decrease if the nominal pay growth is less rapid than the inflation rate.
The nominal earnings are broken down by economic price level in real pay. Real salaries will increase if the price level declines and nominal earnings remain unchanged.

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His real salary has fallen and his nominal salary has risen. An assistant manager at a restaurant gets a $100 a month raise. He figures that with his new monthly salary he cannot buy as many goods ans services he could buy last year.

Respuesta :

What do real wages and nominal wages mean?

Otras preguntas

His real salary has fallen and his nominal salary has risen.
An assistant manager at a restaurant gets a $100 a month raise. He figures that with his new monthly salary he cannot buy as many goods ans services he could buy last year.