Question

A transfer payment is Question 8 options: a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location. a payment that is automatically transferred from your bank account to pay a bill or some other obligation. a form of government spending that is not made in exchange for a currently produced good or service. the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure.

Answer 1

A transfer payment is a form of government spending that is not made in exchange for a currently produced good or service.

What is transfer payment?

Transfer payment is when the government makes payment for goods when goods and services are not produced or rendered. An example of transfer payment is social security. Transfer payment is not added to the calculation of gross domestic product.

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