A) It refers to payments made for which there is no goods produced or service provided in return.
B) It is a type of treasury bills
C) It is a method of transfer of money in the banking system
D) None of the above
Correct Answer: A
Solution :[a] In economics, a transfer payment (or government transfer or simply transfer) is are distribution of income in the market system. These payments are considered to be non-exhaustive because they do not directly absorb resources or create output. In other words, the transfer is made without any exchange of goods or services.
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