In considering real-world situations, we must recognize the fact that by "wages" in this chapter, we mean the following, except the
A)total price that employers pay to obtain labor.
B)total income earned by households.
C)total compensation of workers.
D)total of direct payments and fringe benefits to workers.

Question

Quizplus · Accepted Answer

Wages specifically refer to the compensation workers receive for their labor, including direct payments and fringe benefits (options A, C, and D). Option B, the total income earned by households, encompasses more than just wages, including other sources of income such as investments, making it the correct exception.

In Considering Real-World Situations, We Must Recognize the Fact That