A transfer payment is
a. a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location.
b. a payment that is automatically transferred from your bank account to pay a bill or some other obligation.
c. a form of government spending that is not made in exchange for a currently produced good or service.
d. the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure.
c
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If incomes grow during the next year, what will happen in the market for RVs? (Assume that RVs are normal goods.)
What will be an ideal response?
In a tit-for-tat strategy, a player
A) randomly punishes its rival. B) ensures that the joint profit is maximized in each round. C) copies the action of its rival's prior move in the subsequent rounds. D) maximizes the joint profit in the game.