Definitions for "Real Wage" Add To Word List
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The wage of labor -- or more generally the price of any factor -- relative to an appropriate price index for the goods and services that the worker (or factor owner) consumes.
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the nominal wage divided by the (consumer) price level
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the wage or price of labor adjusted for inflation; in contrast, the nominal wage has not been adjusted for inflation.
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Ones wage adjusted for inflation.
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