If I have PhD, but willing to accept Master's degree level wage, will I get hired into MA level jobs?

These days you have PhD competition trying to get jobs at McD's for minimum wage. Over 31 million Americans are currently looking for work. The real unemployment rate has been over 20% since last spring. Apply for whatever jobs you are qualified for, but the employer sets the wage rates based on the job requirements, whatever you do. Wages for a position these days generally don't vary much by MA vs PhD, it is based on what you are required to do, and what that is worth to the employer.

Your best bet is to apply for jobs that fit your experience/education. However, if you are feeling desperate and will take a job that is lower than your qualifications or in a different field, it is best to attach a cover letter that provides some insight into why you want this job and why they should hire you. This "insight" still needs to be professional and geared toward how you will fit into this job.