Definition of Nominal wage:
Dollar amount of wage, as distinct from its true value in terms of what it will buy in goods and services.
How to use Nominal wage in a sentence?
- Joe believed that the nominal wage that the company paid him for his work was fair and competitive for his job description.
- I wondered what the nominal wage was and how much it could buy because I was really interested in everything to do with wages.
- The nominal wage did not take into account the inflation that would be critical to understand the spending habits of the region.
Meaning of Nominal wage & Nominal wage Definition