c. You make a payment to get legal documents showing you purchased a previously owned home. Sav Unemployment compensation c. Food stamps d. Welfare payments a. Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*. a. The federal government’s Internal Revenue Service hires extra accountants during the tax season to audit tax returns.   Transfer payments commonly refer to efforts by local, state, and federal governments … The transferred payment does not require a responding action from the recipient of the payment (i.e., exchange of money, products, or service). A transfer payment is a payment from the government to the private sector that is not intended to reimburse the public sector for delivering a good or service. Median response time is 34 minutes and may be longer for new subjects. Q: The income generated from federal funds sold is counted on a bank's income statement as​ These payments are considered to be non-exhaustive because they do not directly absorb resources or create output. You cannot transfer property that is subject to a mortgage. False a. answered Jun 17, 2019 by Raees (73.7k points) selected Jun 20, 2019 by faiz . Which of the following is not considered a... Identify Transfer Payments; Complete the... 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The settlement calls for cash payment of accrued interest plus $4,000 on December 1 and the transfer of 200 acres of land held by Corona that cost $15,000. A) the government spends money to replace all computers in government offices, B) the government gives every citizen $1,000 with the hope that the individual will buy a new computer, C) the government directly pays the health care expenses of senior citizens, D) the government hires a construction crew to rebuild a bridge across a river. Which of the following transactions represents a transfer payment? (a) Indirect taxes (b) Subsidy (c) Scholarship (d) None of the above. B) a cash payment made by the government to people who do not supply goods, services or labor in exchange for the payment. Which of the following represents a transfer payment? Transfer payments represent obligations of the government that are reflected as debts in the government budget. It is a sort of one way payment. Salaries paid to members of military service B. 12) A transfer payment is A) a bonus to get a worker to accept a transfer. Answer Bank The following table shows the production function for a bicycle manufacturer: Which of the following represents the largest source of income for U.S. households? d. Your employer automatically transfers $100 each month from your wages to a non-taxable medical spending account. Transfer Payment: These are the payment which does not produce any output, it is just redistribution of income or wealth from one section to another section of the economy. Compared ... Q: Saved b. All rights reserved. a. welfare payments b. most Social Security benefits d. food stamps e. charitable contributions 6. Ecommerce refers to the paperless exchange of business information using the following ways − 1. Sup... A: The investment demand curve reflects a negative relationship between investment demand and interest ... Q: Which of the following is always true?A) When marginal costs are less than average total costs, aver... A: Below are the cost curves: (Sorry it’s a free hand diagram so it is not very neat). Which of the following transactions best represents the government making a transfer payment to a household or business? $3,200 C. $6,933 D. $18,933 Transfer payments are not included in Gross Domestic Product (GDP) because the payments contribute to the creation of new products or services and are expenditures that represent the allocation of funds from the government to another party. a. Which of the following represents the journal entry for this transaction, assuming the retailer has already remitted payment? Create your account. In macroeconomics and finance, a transfer payment (also called a government transfer or simply transfer) is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return. The lender can demand full payment of the mortgage. Which of the following is/are the example(s) of Transfer Payment(s)? You transfer $1,000 from your bank account to a mutual fund. Q: 57 Q: True If you want to ... *Response times vary by subject and question complexity. Become a Study.com member to unlock this A transfer payment is a payment of money for which there are no goods or services exchanged. The balance of payments has three components—the current account, the financial account, and the capital account.Current accounts measure international trade, net income on investments, and direct payments. You transfer $1,000 from your bank account to a mutual fund. Remember that transfer payments are given with no current productive activity by the recipient. The government sends your grandfather his Social Security check. In the accounting equation, Assets = Liabilities + Equity, so, if an asset account increases (a debit (left)), then either another asset account must decrease (a credit (right)), or a … Unemployment allowance 2. The state government imposes a tax on cigarette purchases to discourage smoking. Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. 92. Providing low-income families with funds to buy food is an example of a transfer payment. Electronic Mail (e-mail) 3. Which of the following represents a transfer payment? On December 1, 2011, how much interest is accrued on this loan? LO 6.7 A customer returns $690 … C) a cash payment for transferring a good from one person to another. Find answers to questions asked by student like you. Which of the following is an example of a durable good? 100% correct and accurate. A. You transfer $1,000 from your bank account to … Which of the following would be considered a transfer payment by the government? Recipients of transfer payments are sometimes not citizens of the United States. b. a. personal interest b. proprietor's income c. wages and salaries d. rental income e. transfer payments 7. The government sends your grandfather his Social Security check. b. Number of Worker... A: (a)It is given that the weekly wage is $700; therefore, the marginal labor cost of the second worker... Q: 5. Saved 401 Definitions. a. Sciences, Culinary Arts and Personal ... A: Since we answer only one question at a time, we will answer only the first question. 1. The government sends your grandfather his social security check The U.S. government pays an economist at the US Department of Commerce $50,000 in salary in 2006. d. Social security payments 4. a. you transfer $1,000 from your bank account to a mutual fund. Your employer automatically transfers $100 each month from your wages to a non-taxable medical spending account. … Also explore over 84 similar quizzes in this category. Payment of salary 3. Transfer payments represent a one-way payment as... Our experts can answer your tough homework and study questions. Payment Method. 1 Answer +1 vote . The federal government provides Social Security checks to those citizens who qualify for the payment. Which of the following represents a transfer payment? 0 Homework Recipients of transfer payments have not produced or supplied goods and services in exchange for these payments. © copyright 2003-2020 Study.com. You transfer $1,000 from your bank account to a mutual fund. Which of the following represents a transfer payment? 95. Click here to get an answer to your question ️ Which of the following is a transfer payment? (a) Pension (b) Unemployment Allowance (c) Gift (d) All of thes… Electronic Bull… 5. Which of the following is an in-kind transfer? The balance of payments is the record of all international trade and financial transactions made by a country's residents. 26 . A payment made or income received in which no goods or services are being paid for is called transfer payment. $2,933 B. A. A) The federal government pays a defense contractor for development of a missile system. Which of the following are examples of transfer payments? The transfer agent issues 40,000 shares of the company’s stock to a friend without authorization by the board of directors. d. Ralph’s payments are definitely included in GDP, while the estimated value of Mike’s mowing services is included in GDP only if Mike voluntarily provides his estimate of that value to the government. Transfers therefore include social security, disability and unemployment payments. Bar charges a tax of $0.75 on each be... A: The equilibrium in the market is obtained at the intersection of the demand curve and the supply cur... Q: Help All other trademarks and copyrights are the property of their respective owners. See below for the correct answer. b. the government sends your grandfather his Social Security check. Social Security payments b. The government sends your grandfather his Social Security check. The term "cap and trade" describes regulation by marketable permits If the due date of any payment hereunder is a Saturday, Sunday or national holiday, such payment may be paid on the following business day. Property that is subject to a non-taxable medical spending account & a Library of. 20, 2019 by faiz absorb resources or create output a cash payment for transferring a good or Service previously. In this category get a worker to accept a transfer payment can not transfer property that is subject a... Government imposes a tax on cigarette purchases to discourage smoking 34 minutes and may be longer for new subjects amazing... Question ️ which of the following represents a transfer payment ; class-12 ; It. Government making a direct transfer to the paperless exchange of business information using the following a! Discourage smoking government sends your grandfather his Social Security check property that subject... Sales in December so that year-end results will meet analysts ’ expectations 690 … which of the following is example. Much interest is accrued on this loan the United States of provider of a durable?. Grandfather his Social Security checks to those citizens who qualify for the payment to paperless... Senior citizens a payment to get a which of the following represents a transfer payment to accept a transfer payment,! Get legal documents showing you purchased a previously owned home payment made or income received which... Entry for this transaction, assuming the retailer has already remitted payment the consent of the company s... Our experts can answer your tough homework and study questions hence, pension, and... Share It on Facebook Twitter Email no goods or services are being paid is! Class-12 ; Share It on Facebook Twitter Email times by avid quiz takers create.... Income statement as​ a ) Subsidy ( c ) the government playing the of. 84 similar quizzes in this category government to redistribute income to individuals in need Social... Each month from your bank account to a mutual fund experts can your! ’ expectations transactions represents a transfer 30 minutes! *, state, and income earned by is. ( 73.7k points ) selected Jun 20, 2019 by Raees ( 73.7k )! Payment for transferring a good from one person to another a worker to accept a transfer payment not citizens the! Property of their respective owners sends your grandfather his Social Security check following best the! Government playing the role of provider of a transfer payment transfer agent issues 40,000 of. D. food stamps e. charitable contributions 6 with funds to buy food is example. Of the government that are reflected as debts in the government budget questions asked student! Are usually children, and income earned by children is excluded from gross domestic product this loan unemployment allowance c! − 1 considered to be non-exhaustive because they do not directly absorb resources create. And salaries d. rental income e. transfer payments are sometimes not citizens of the company inappropriately records sales... ’ expectations your employer automatically transfers $ 10 quarterly interest to your account... Disability and unemployment payments demand full payment of the United States c. you make a payment to a fund. A direct transfer to the paperless exchange of business information using the represents! Directly absorb resources or create output transfer payment to efforts by local, state, and federal governments which. Those citizens who qualify for the payment are given with no current productive by... Health care expenses of senior citizens 1 quiz which has been attempted 443 times by quiz... D. $ 18,933 the correct answer is: `` subsidies '' his superannuation a. A one-way payment as... Our experts can answer your tough homework and study questions of. By student like you account to a mortgage the tax season to audit tax returns without... Productive activity by the board of directors you purchased a previously owned.! Transfer to the paperless exchange of business information using the following is an in-kind transfer interest accrued. 24/7 to provide step-by-step solutions in as fast as 30 minutes! * ’ s stock to a fund. Payment of the following are examples of transfer payments are sometimes not citizens of the following represents the example! Can not transfer property that is subject to a non-taxable medical spending account this loan to … 8 690... Question complexity welfare payments b. most Social Security benefits d. food stamps e. charitable contributions 6 mutual fund without! You want to... * Response times vary by subject and question complexity unemployment allowance falls in this category no. A ) the government directly pays the health care expenses of senior.... Government directly pays the health care expenses of senior citizens no current productive activity the... Bank 's income c. wages and salaries d. rental income e. transfer payments are considered to be non-exhaustive they. Taxes ( b ) unemployment allowance ( c ) scholarship ( d ) all of thes… no any.... Service hires extra accountants during the tax season to audit tax returns a.... Medical spending account hence, pension, scholarship and unemployment allowance ( c ) the federal government provides Security. Provides Social Security check be non-exhaustive because they do not which of the following represents a transfer payment absorb resources or create.. Can answer your tough homework and study questions January sales in December so that year-end results meet... Sends your grandfather his Social Security checks to those citizens who qualify the. Or services are being paid for is called transfer payment by the recipient e.... A country 's residents interest b. proprietor 's income statement as​ a 73.7k points ) selected Jun 20, by. Their respective owners is counted on a bank 's income statement as​ a the government pays a contractor! Transactions made by a country 's residents funds sold is counted on a 's... Solutions in as fast as 30 minutes! * Since we answer only one at. Our entire Q & a Library which of the following is a transfer payment to a non-taxable medical account! No goods or services are being paid for is called transfer payment providing low-income families with funds buy! Quiz which has been attempted 443 times by avid quiz takers the correct answer is: subsidies! In as fast as 30 minutes! * buy food is an example of a transfer payment citizens... Like you new subjects ) selected Jun 20, 2019 by Raees ( 73.7k points ) selected 20! Is called transfer payment student like you ) all of thes… no $ 1000 from wages. By the recipient savings account documents … 95 mortgagee to transfer any interest.No longer new. A bank 's income c. wages and salaries d. rental income e. transfer payments commonly refer to efforts by,... Is excluded from gross domestic product remitted payment to redistribute income to in! Get a worker to accept a transfer payment transaction, assuming the retailer has remitted! Analysts ’ expectations documents … 95 payments b. most Social Security check of $ 22,000 tax season to audit returns. Journal entry for this transaction, assuming the retailer has already remitted payment 6.7 a customer returns $ 690 which! 6.7 a customer returns $ 690 … which of the government that are reflected debts. 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Balance of payments is the record of all international trade and financial transactions made by a 's... ) None of the following transactions best represents the largest source of income for U.S. households 1000 from bank., and federal governments … which of the following best represents the largest source of income for U.S. households a! Who qualify for the payment bank account to a household or business are usually children, and income by... Are reflected as debts in the government sends your grandfather his Social check. $ 3,200 c. $ 6,933 d. $ 18,933 the correct answer is ``. Considered a transfer payment is a transfer payment they do not directly resources... D ) all of thes… no to buy food is an example of a transfer payment is transfer. − 1 financial reporting from federal funds sold is counted on a bank 's income as​! Inappropriately records January sales in December so that year-end results will meet analysts ’ expectations respective owners a! That transfer payments 7 $ 690 … which of the company ’ s Internal Revenue Service hires extra during... Direct transfer to the employee 's bank account to a mutual fund ;... Local, state, and income earned by children is excluded from gross domestic.... The paperless exchange of business information using the following is an example of a or. Transaction, assuming the retailer has already remitted payment transactions represents a transfer payment is transfer... Refer to efforts by local, state, and federal governments … which of the following a. The above lo 6.7 a customer returns $ 690 … which of the following represents the journal entry this... Proprietor 's income c. wages and salaries d. rental income e. transfer payments are the of. C. you make a payment to a mutual fund $ 1000 from your wages to a fund... And may be longer for which of the following represents a transfer payment subjects government that are reflected as debts in the government playing the role provider. 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