Question

relationship between money wage price and real wage​

Answer 1

Answer:

There is a direct relation between real wages and money wages, as the labour's demand is primarily a demand for real wage and not for money wage. ... An increase in money wage rate implies an increase in real wage rate and a cut in money wage rate amounts to a cut in real wage rate.

Explanation:

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Answer 2

Answer:

There is a direct relation between real wages and money wages, as the labour's demand is primarily a demand for real wage and not for money wage. ... An increase in money wage rate implies an increase in real wage rate and a cut in money wage rate amounts to a cut in real wage rate.

Explanation:

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