The money wage rate is the number of dollars that an hour of labor earns.
$6.00
When the price level and the money wage rate change by the same percentage, the real wage rate remains constant at its full employment equilibrium level so employment remains constant and real GDP remains constant at "potential GDP" which is the quantity of real GDP at full employment.
There are some companies that choose to pay above average wage rate. They start their employees cents or dollars above the base wage.
Relative wage is the wage that is comparable for a certain type of job. It will not necessarily tell you wage rate but the range that you should look for that type of job.
The real wage is the amount of money paid when adjusted for inflation. This wage will rise if the nominal wage rises.
$6.00
i think i also no idea about this
When the price level and the money wage rate change by the same percentage, the real wage rate remains constant at its full employment equilibrium level so employment remains constant and real GDP remains constant at "potential GDP" which is the quantity of real GDP at full employment.
Wage Entitlement is when you get entitled to get a raise on you wage. A wage is when you get money or getting money on pay day.
The minimum wage rate in a state refers to the lowest amount of money a business is allowed to pay it's employees. The minimum wage rate in California,in 2013, is $8 per hour. However, out varies county to county. For example, people that live in a town like Ukiah most likely earn the state mandated minimum wage....but people in San Francisco will earn a higher wage due to the cost of living.
The minimum wage in Florida is $7.93 as of January 2014. This rate is adjusted regularly based on the rate of inflation.
Real Wage = Money Wage / Price Index Real wage measures purchasing power, that is what an hour's labor can buy.
Shadow wage rate is much more mysterious and sexy than Wage Rate. Some would even say more dangerous. Market wage rate is what they pay people who work in the market. One day all the market workers will have their paychecks do situps and become the sexy shadow wage rate. One can only hope. Not sure if my answers are spot on but I'm betting an economist would admit that I am in the same ballpark.
There are some companies that choose to pay above average wage rate. They start their employees cents or dollars above the base wage.
What is the yearly wage of a welder? What is the yearly wage of a welder? What is the yearly wage of a welder?
It will depend on what the company will set your wage at as to how much you will get paid for General Office. Some companies vary in pay, ranging from minimum wage to a pay over the minimum wage. I recommend checking with the Payroll office to see what their pay rate is.
the outcoem will rise as well but in the GDP will stay at the same level