You may have heard economics or business leaders referring to the term "nominal wage" and wondered what they mean. The easiest way to understand a nominal wage is as simple dollar value. It's basically the amount (in dollars) that an employ. If you're just starting a business or looking to increase employee satisfaction, make sure you know the difference between nominal and real wages. What employees care about is the real wage. This determines their purchasing power and qualit. Filing your annual tax return can be a complex process if you have multiple sources of income. The words earnings and wages are often used interchangeably. Defining and drawing a clear distinction between your earnings and wages can help yo.
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