Economics · National Income Accounting
Transfer payments (such as old-age pensions or unemployment benefits) made by the government are excluded from national income calculation because:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1They represent capital formation in the public sector
- 2They are accounted for under private consumption expenditure
- 3They are paid directly in cash rather than commodities
- 4No corresponding production of current goods or services takes place in exchange for such payments✓
Correct answer
No corresponding production of current goods or services takes place in exchange for such payments
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