What are Nominal Wages?
Nominal wages also known as money wages are the total amount of money in the form of rewards paid to labour which are measured in monetary terms. That is to say the actual amount of money paid for labour in a given period of time.
It is wages in its actual form.
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Somtochukwu
Visionary Leader and Development Economist in Nigeria. CEO at Bufiredd Economic Consults Ltd
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