Economics · National Income Accounting
Which of the following best defines transfer payments?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Payments made to individuals in exchange for their labour or services
- 2Payments made by the government to individuals without any corresponding production of goods or services✓
- 3Payments made by businesses to their shareholders as a share of profits
- 4Payments made by individuals to the government in the form of taxes
Correct answer
Payments made by the government to individuals without any corresponding production of goods or services
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