Description : Can someone please explain to me, in laymans terms, the difference between "real wages" and "money-wages"?
Last Answer : ** Disclaimer: I'm not an economist! The way I see it used is like this: If I get paid $20 per hour, this is the nominal wage. The real wage is the purchasing power of that $20. In ... real wages . While nominal wages have increased since the 70s, Real wages have not for much of the workforce.