Real wages represent the difference between wage increases and cost-of-living increases.

Name: Real wages represent the difference between wage increases and cost-of-living increases.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Real wages are wages adjusted for inflation or cost-of-living changes, meaning they reflect the increase in purchasing power for the worker. Therefore, real wages represent the difference between wage increases and cost-of-living increases.

Real Wages Represent the Difference Between Wage Increases and Cost-Of-Living