ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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transfers
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economic
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market transactions
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reciprocity
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Detailed explanation-1: -Examples of transfer payments include welfare, financial aid, social security, and government subsidies for certain businesses.
Detailed explanation-2: -Transfer payments, or subsidies, are analytically equivalent to negative taxes. Generally, the phrase “transfer payment” is used to describe government payments to individuals through social programs such as welfare, student grants, and even Social Security.
Detailed explanation-3: -A corporate tax cut is not a transfer payment.
Detailed explanation-4: -Pensions. Public health services. Social security benefits. Supplementary security income. Survivors benefits.
Detailed explanation-5: -It is a one-way payment to a person or organization which has given or exchanged no goods or services for it. Examples: government payments to individuals through social programs such as welfare, student grants, subsidy, Social Security Payments, Old age Pensions, etc. 23-Jan-2023