What term refers to wages that have not been adjusted for inflation?

The term that refers to wages that have not been adjusted for inflation is "Nominal Wage." This concept is fundamental in economics as it reflects the actual dollar amount paid to employees without taking into account how inflation affects their purchasing power.

When discussing nominal wages, it's important to understand that they represent the figure you see on paychecks and are not reflective of how much can actually be bought with that money over time due to inflation. For example, if someone earns $50,000 nominally, this amount may have different purchasing power in different years depending on the inflation rate.

Other terms, such as "Real Wage," refer to wages that are adjusted for inflation, which provides a clearer picture of an individual's purchasing power compared to nominal wages. "Standard Wage" and "Adjusted Wage" are not recognized terms in economics that describe this concept, making them irrelevant in this context. Understanding the distinction between nominal and real wages is crucial for analyzing economic well-being and trends over time.