Transfer payment
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In economics, a transfer payment (or government transfer or simply transfer) is a redistribution of income and wealth (payment) made without goods or services being received in return. These payments are considered to be non-exhaustive because they do not directly absorb resources or create output. Examples of transfer payments include welfare, financial aid, social security, and government making subsidies for certain businesses (firms).
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See also
- Barnett formula
- Government budget
- Public finance
- Transfer payments multiplier
- Welfare state
- Workfare
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