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Question : Which of the following is a transfer payment?
(a) Unemployment allowances
(b) Scholarships
(c) Retirement pension

Option 1: Only (a)

Option 2: All of the above

Option 3: Only (a) and (b)

Option 4: Only (c)


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 21st Jan, 2024

Correct Answer: All of the above


Solution : The correct option is All of the above .

Transfer payments are typically made to redistribute income, provide assistance, or support specific groups in the population.

Unemployment allowances involve providing financial assistance to unemployed individuals, and they don't involve a direct exchange of goods or services.

The scholarship is need-based and provided as financial aid without an expectation of direct compensation or exchange of services; therefore, it can be considered a transfer payment.

Retirement pensions are payments made to individuals based on their past contributions or services during their working years.

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