When aggregate expenditure falls short of the level needed to generate a full- employment, noninflationary equilibrium, then a recessionary gap exists

Which of the following statements about transfer payments is true?

a. Transfer payments are not included in total government expenditures. b. Transfer payments involve the international remittance of funds. c. Transfer payments refer to the transfer of money by the commercial banks to the people. d. Transfer payments are made by the government to taxpayers. e. Transfer payments are made when governments purchase goods and services.

________: when household disposable income goes up, the level of planned consumption goes up also

Fill in the blank(s) with correct word