The term transfer payments refers to

Question

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Transfer payments refer to payments made by the government to individuals which are not in exchange for current goods and services. Examples include Social Security, unemployment benefits, and welfare payments. Federal income taxes (A) are not transfer payments, as they are taxes collected by the government from individuals and businesses. Money transferred between savings and checking accounts (B) is not considered transfer payments, as this is simply a transfer of funds within an individual's own accounts. Additional profits transferred to monopolies (D) is also not transfer payments, as this refers to extra profits gained by companies due to their market power, rather than payments made to individuals.

The Term Transfer Payments Refers to