Transfer payments are payments by governments to individuals that are not made in return for current goods or services.

Name: Transfer payments are payments by governments to individuals that are not made in return for current goods or services.
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Transfer payments include social welfare programs, retirement benefits, and subsidies to individuals or businesses. These payments are not in exchange for current goods or services, but are meant to support or assist individuals or groups.

Transfer Payments Are Payments by Governments to Individuals That Are