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Economics Edexcel A
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3.5.3 Wage determination in competitive and non-competitive markets
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Multiple choice
How does a
real wage
differ from a
nominal wage
?
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Nominal wage
is the money value received (£ per hour)
Real wage
is adjusted for
inflation
to show purchasing power
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3.5.3 Wage determination in competitive and non-competitive markets Flashcards
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3.5.3 Wage determination in competitive and non-competitive markets
