National Income Accounting — Economics STD 12 Humanities & Commerce — Question
Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNational Income Accounting1 Mark
Question
What are transfer payments?
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Answer
Transfer payments are payments made without rendering any goods or services in return, e.g., old age pension, scholarships, gifts, etc. These are unilateral payments (or receipts) and not included in the national income.
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