Also, from the production point of view, we call $w \times L$ the wage bill, which is the total labor income from the consumption side point of view. Correct?

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    $\begingroup$ Yes, although your particularization confuses me as to whether you need to provide more context that would warrant qualifying the answer. That wL is the total cost of Labor is not exclusive to a neoclassical model, nor is it true only from the consumption point of view. $\endgroup$ – Iñaki Viggers Jan 11 at 18:57

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