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WAEC Economics 2007 Question 49

Question 49

National Income

Which of the following are examples of transfer payments?

  1. A.Gifts and donations
  2. B.Rents and rates
  3. C.Profits and dividends
  4. D.Internal and external debts.
Show the answer and explanation

Answer: A (Gifts and donations)

Explanation

Transfer payments are received without giving any good or service in return, such as gifts and donations.