Transfer Payments
Definition
Transfer payments refer to government payments made to individuals or groups without any goods or services being exchanged in return. These payments are typically aimed at redistributing income and providing assistance to those in need.
Related terms
Social Security: A government program that provides transfer payments in the form of retirement benefits for eligible individuals.
Unemployment Benefits: Transfer payments provided by the government to individuals who are unemployed and actively seeking employment.
Welfare Programs: Government programs that offer transfer payments and other forms of assistance to low-income individuals and families.
"Transfer Payments" appears in:
Study guides (1)
AP Macroeconomics - 2.1 Circular Flow and GDP
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Resources
Cram Mode
AP Score Calculators
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Help Center
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.