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.

Wages

Remuneration provided to laborers for their services, usually based on an hourly, daily, or task-completion method.

Total Compensation

The complete pay package for employees including all forms of money, benefits, services, and in-kind payments.

Direct Payments

Cash transfers from the government to individuals or businesses for various purposes without any requirement for reciprocation.