Identify whether each of the following government expenditures is a payment for goods and services or...
Identify whether each of the following government expenditures
is a payment for goods and services or a transfer payment:
a) A local public school hires a new teacher.
-
Transfer payment
-
Payment for goods and services
b) Medicare pays for a knee replacement for a 66-year old.
-
Payment for goods and services
-
Transfer payment
c) A poor family gets food stamps.
-
Payment for goods and services
-
Transfer payment
d) The Social Security Administration issues a monthly check to a
retiree.
-
Payment for goods and services
-
Transfer payment
Homework Answers
All except A is a transfer payment,as all these payments are made to individuals who have not performed any service or rendered any goods for it.
A is payment for a service.
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