Q162
The standard of living of workers depends upon their
A.
Nominal wages
B.
Real wages
AnswerC.
Average product
D.
Government policy
Answer: Option B
Solution
Answer: Option B
Solution:
The amount of goods and services which the labourer actually gets is called his real wages. The standard of living and the prosperity of a labourer depend not on his money wages but on his real wages.