Q define nominal wagesthe nominal wage is wage per unit of, Ask an Expert

Economics

Q. Define Nominal wages?

The nominal wage is wage per unit of time in the currency used in the country- what we usually just call wage. When we mention wage in macroeconomics we almost always mean gross wage, which is, wage before income taxes though after employment taxes paid by the employer. Wage is a flow which we typically measure in units of currency per hour.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9577285

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