MANAGEMENT

Detailed explanation-1: -Examples of transfer payments include welfare, financial aid, social security, and government subsidies for certain businesses.

Detailed explanation-2: -Government transfer payments include Social Security benefits, unemployment insurance benefits, and welfare payments. Taxes are considered transfer payments. Governments also receive transfer payments in the form of fees, fines, and donations from businesses and persons. (See also National Income and Product Accounts.)

Detailed explanation-3: -A transfer payment is a payment of money for which there are no goods or services exchanged. Transfer payments commonly refer to efforts by local, state, and federal governments to redistribute money to those in need.

Detailed explanation-4: -Old age pensions are unilateral payments or transfer payments. These are not included in the estimation of national income. On the other hand, retirement pensions are like a deferred wage. These are related to factor services rendered by the recipients prior to their retirement.