What Is An Example Of Real Wage Unemployment? For example, a fall in demand for labour (due to demand-side shock) could cause unemployment, if wages are kept at their old level (W1). If labour markets are made more flexible, wages would fall to We and equilibrium would be restored at Q1. What is an example
What Is The Difference Between Money Wage And Real Wage? Real wage refers the compensation that takes inflation into consideration in the tabulation. Money wages on the other hand is just the payment done for labor done within an organization. Real wages are determined by the inflation rates and consider the purchasing power of a
What Is Nominal Income Example? Nominal wage, or money wage, is the literal amount of money you get paid per hour or by salary. For example, if your employer pays you $12.00 an hour for your work, your nominal wage is $12.00. Similarly, if your employer pays you a salary of $48,000 a year, then