Explain about nominal wage level, Macroeconomics

Assignment Help:

Q. Explain about Nominal wage level?

In macroeconomics, we are usually not interested in the wage for a specific individual though in the average wage for all employed individuals. This average is known as the wage level however because we typically only care about the wage level, we will almost always use wage when we essentially mean the wage level. So a statement like 'wages increase'must not be interpreted as all wages increasing, though rather that average is increasing.


Related Discussions:- Explain about nominal wage level

Internal market forces, what are some internal market forces and how is the...

what are some internal market forces and how is the outcome of output, jobs, prices, growth, and international balance

Production function stuff, 1. Given the following production function: ...

1. Given the following production function: Y = K1/4 L3/4 Find the following: a. Per worker production function. b. Steady-state capital-labor ratio as a function of d and

COMPLETE KEYNESTION MODEL, WHAT IS THE SHAPE OF AGGREGATE SUPPLY CURVE IN C...

WHAT IS THE SHAPE OF AGGREGATE SUPPLY CURVE IN COMPLETE KEYNESIAN MODEL

Discuss about the keynesian economists, Discuss about the Keynesian economi...

Discuss about the Keynesian economists The Keynesian economist A. W. Phillips developed short-run Phillips curve analysis in the 1950s. Phillips had researched the relationshi

General principles of marginal and average total cost curves, What are the ...

What are the general principles about marginal and average total cost curves? General principles which are always true concerning a firm’s marginal and average total cost curve

Market clearing values of wages, On the next page is a graph of a labor mar...

On the next page is a graph of a labor market in equilibrium, with market clearing values of wages and hours of employment being W 1 and E 1 respectively.  a.  The Federal gov

Equilibrium in the money market, Equilibrium in the money market  ...

Equilibrium in the money market  In the IS-LM-model, we have equilibrium in the money market when MD(Y, R) = MS   This is the equation

Hurricane or flood or a pandemic strikes, When a hurricane or flood or a pa...

When a hurricane or flood or a pandemic strikes a country, who is most likely to respond first?

Anova data analytical approach, This assignment lets you explore a quasi-ex...

This assignment lets you explore a quasi-experimental model using ANCOVA data analytical approach. By doing this data analysis project, you will understand a new quantitative resea

Fiscal, what is the supply side

what is the supply side

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd