Which of the following is an example of a transfer payment?
a. wages and salaries paid to the employees of the Internal Revenue Service
b. purchase of automobiles by a local police department
c. agriculture subsidies paid to farmers
d. salaries paid to the college professors of state-operated universities
C
Economics
You might also like to view...
According to the law of diminishing returns
a. Production increases at a decreasing rate b. Production increases at a increasing rate c. Production decreases at a decreasing rate d. Production decreases at an increasing rate
Economics
On a production possibilities curve, the single optimal or best combination of output for any society:
A. Is at a point near the top of the curve B. Is at the precise midpoint of the curve C. Is at a point near the bottom of the curve D. Depends upon the preferences of society
Economics