What is the difference between real and nominal wage, GDP, interest rate, and money demand?

The difference between real and nominal wage, GDP, interest rate, and money demand is explained below;

Nominal wage - Nominal wage rate is the labor income which a person earns per hour. It does not tell about a person's purchasing power. It is generally the amount of money an employer pays to the employee per hour of labor work. It is the income of labor.

Real wage rate: Real wage rate considers the effect of inflation. It shows the purchasing power of a person. It is denoted as nominal wages divided by the price level. When inflation is more than the nominal wage rate, real wage tends to fall, that is, the purchasing power of an employee decreases. It is the income of labor, considering price changes.

GDP: GDP is the gross domestic product, which means the total market value of all the products in an economy over some time. It is the income of all the factors of production.

Real GDP: Real GDP is the market value of all the products considering the effect of inflation.

Nominal GDP: Nominal GDP is the measurement done by taking the actual prices, that is, the raw data

Nominal interest rate: Nominal interest rate is the rate of interest prevailing in the market. It is the rate of interest we get for the loans or bond. It is the actual interest that a borrower pays for loans. Nominal interest does not take inflation into considerations.

Real interest: Real interest is the nominal interest minus the inflation rate. The real interest is what a borrower pays considering inflation.

Money demand: Money demand is the desire to hold money in the form of cash and deposits. Money demand has two-component; transaction demand for money and speculative demand for money. Transaction demand for money is the demand for money for daily basis transaction. While speculative demand is for speculations. There is precautionary money demand also which is for the purpose to cover an unexpected expense.