Question

What is considered a wage? (1 point)
A fixed amount paid per completion of a unit of a good.
An annual amount agreed upon in advance paid to a full-time employee to perform a role regardless of time spent
A fixed amount paid per period of time spent working.
Any amount aid to someone for any reason

Answer 1

The first three choices —
- a fixed amount paid per unit (piece rate),
- an annual amount agreed in advance (salary), and
- a fixed amount paid per period of time (hourly wage) —
are all forms of wages. The last option ("any amount paid to someone for any reason") is too broad and not a wage.