Transfer payments and noncash benefits raise the living standard of poorer households and dramatically alter the overall structure of economic inequality.

Question

Quizplus · Accepted Answer

Transfer payments and noncash benefits provide essential support to low-income households, improving their standard of living and reducing poverty. These programs also have a redistributive effect, altering the distribution of income and reducing overall economic inequality.

Transfer Payments and Noncash Benefits Raise the Living Standard of Poorer