Question

The nominal wage rate is the average​ _____ wage rate measured in​ _____ dollars. the real wage rate is the average​ _____ wage rate measured in the dollars of​ _____ year.

a. ​hourly; constant; ​annual; the current
b. ​annual; current; ​annual; the past
c. ​annual; current; ​annual; a reference base
d. ​hourly; current; ​hourly; a reference base

Answer 1

Answer d. hourly; current; ​hourly; a reference base

Nominal Wage rate is defined as " the average hourly wage rate measured in current dollars" and Real wage rate is defined as 'the average hourly wage rate measured in the dollars of a given reference base year"