Business Terms and Jargon Explained

What is Nominal wage flexibility

Describes the ease with which nominal wages (the pay of an individual before adjusting for changes in the price level) adjust, in particular when this adjustment entails potential wage cuts.

Crown Copyright. Material taken from HM-Treasury. Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2007-03-29 15:55:13

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