what-is-the-difference-between-nominal-wage-and-real-wage

Question

What is the difference between nominal wage and real wage?

Accepted Answer

Nominal wage is the actual dollars paid, while real wage is the purchasing power of those dollars.

Answer

Nominal wage is adjusted for inflation, while real wage is not.

Answer

Nominal wage and real wage are the same.

Answer

Real wage is the actual dollars paid, while nominal wage is the purchasing power of those dollars.