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What type of change is represented by the decay of a fallen tree?
Nominal Wages
The amount of money paid to employees not adjusted for inflation, reflecting the current dollar value of wages.
Real Wages
Pay from employment, recalibrated for price level changes to indicate the true value of work income.
Fringe Benefits
Additional compensation given to employees beyond their base wage or salary, such as health insurance, paid vacation, or retirement plans.
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