McqMate
Q. |
The main determinant of real wage is - |
A. | extra earning |
B. | nature of work |
C. | promotion prospect |
D. | purchasing power money |
Answer» D. purchasing power money | |
Explanation: The term real wages refers to wages that have been adjusted for inflation. This term is used in contrast to nominal wages or unadjusted wages. Real wages provide a clearer representation of an individual's wages. The real purchasing power of income or money is the key determinant of real wage. It an indication of an individual's actual purchasing power. Real wages arc a useful economic measure, as opposed to nominal wages, which simply show the monetary value of wages in that year. |
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