You can see from the descriptions.
For emacs, the metapackage, we have
Description-en: The GNU Emacs editor (metapackage)
GNU Emacs is the extensible self-documenting text editor.
This is a metapackage which will always depend on the latest Emacs
release.
while for the other we have
Description-en: The GNU Emacs editor
GNU Emacs is the extensible self-documenting text editor.
This package contains a version of Emacs with a Lucid user interface.
So you should install the first, that should automatically bring in the current version of emacs as a dependency.
Update
A metapackage is a package that do not provides the files of an application per se, but it lives only because of its dependencies. When you install it, also dependencies get installed (a metapackage has also other characteristics, but it is enough here).
If you run apt-cache show emacs | grep Depends, you would get the following output:
Depends: emacs23 | emacs23-lucid | emacs23-nox
and it means that when you install emacs, it needs one of that three packages. How the package manager choose which one to install, I don't know.