Question

differentiate between money and real income​

Answer 1

Answer:

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Real wage refers the compensation that takes inflation into consideration in the tabulation. Money wages on the other hand is just the payment done for labor done within an organization. Real wages are determined by the inflation rates and consider the purchasing power of a given compensation amount.

Answer 2

Answer:

Answer

Explanation:

Real income, also known as real wage, how much money an individual or entity makes after adjusting for inflation. Real income differs from nominal income