E16 Flashcards
1
Q
Wages
A
Receiving a pay rate per hour and multiplied by the hours you have worked
2
Q
Salary
A
Fixed amount paid by employees usually monthly
3
Q
Gross income
A
The amount received before any deductions
4
Q
Net income
A
Gross income-deductions t
5
Q
Nominal income
A
The income paid to workers unadjusted for the effects of inflation
6
Q
Real income
A
The income paid adjusted for the effects of inflation
