The Real Wage Denotes

question 73

Multiple Choice

The real wage denotes

• A) the number of units of consumption goods that can be exchanged for one unit of labour time.
• B) the number of units of labour time that can be exchanged for one unit of consumption goods.
• C) the number of units of labour time that can be exchanged for one unit of leisure time.
• D) the number of units of leisure time that can be exchanged for one unit of labour time.
• E) the purchasing power of income earned after taxes are paid.

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Definitions:

Sold

The term refers to when goods or services are exchanged for money, transferring ownership from the seller to the buyer.