Real wage rate
From Mises Wiki, the global repository of classical-liberal thought
Real wage rate is a wage rate in terms of what it will buy or provide rather than in terms of monetary units whose purchasing power fluctuates. Real wages also take into account any nonmonetary advantages, disadvantages or withholdings that accompany the employment. See "Nominal wage rates" for contrast.[1]
References
- ↑ Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-08-17.
Links
- Real wage at Wikipedia
