M.Com
SEMESTER - II
ANS:
|
Real Income |
Nominal Income |
|
Real income is the
inflation-adjusted earnings of an entity, individual or nation. |
Nominal income does
not consider inflation rates while calculating an entity's or individual's
earnings. |
|
Real wage represents
the purchasing power of an individual |
A nominal wage
indicates only the earnings of an individual |
|
It varies over the
years |
It can remain fixed
over the years |
|
Real earnings are a
valuable indicator of an individual's well being as it assesses the number of
goods and services bought from that income. |
Nominal earnings only
denote an individual's current earnings that are not adjusted to the changes
in inflation rates. Hence, it does not represent the well-being of an
individual. |
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