A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?
Correct answer: C. Transfer payment
- A. Tax
- B. Tariff
- C. Transfer payment
- D. Subsidy
Explanation
A transfer payment is money or goods provided by government without a directly received good or service, such as certain welfare payments. A subsidy is a narrower form of government assistance, so the broader definition points to transfer payment.
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