Economics · National Income Accounting
Which of the following is true about transfer payments in relation to personal income?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Transfer payments are excluded from personal income.
- 2Transfer payments are included in personal income only for businesses.
- 3Transfer payments have no impact on personal income.
- 4Transfer payments are included in personal income.✓
Correct answer
Transfer payments are included in personal income.
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