The purpose of transfer payments is to provide a "safety net" of income security for the poor and needy.

Name: The purpose of transfer payments is to provide a "safety net" of income security for the poor and needy.
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Transfer payments, such as welfare benefits, unemployment insurance, and social security, are designed to redistribute income to the poor, needy, and those unable to work, acting as a safety net to ensure income security.

The Purpose of Transfer Payments Is to Provide a "Safety