Money payments made by governments to individuals for which no services or goods are concurrently rendered are known as?

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24-08-2022
Medicine

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Money payments made by governments to individuals for which no services or goods are concurrently rendered are known as?

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loshan05 loshan05 · Answer 1 · 2022-09-04T11:19:46+02:00

Answer:

Money payments made by governments to individuals for which no services or goods are concurrently rendered are known as transfer payments.

There is a significant debate around the number of transfer payments that are being made to people who do not work.

Explanation:

These types of Money payments are usually made in the form of Social Security and welfare benefits, but they can also be made as tax refunds, unemployment compensation, veterans' benefits, and other types of social welfare.

This is a list of common examples:

Unemployment Compensation
Social Security Benefits
Veterans' Benefits
Child Tax Credit
Medicaid, etc.

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