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WAEC Economics 2022 Question 33

Question 33

National Income

An example of transfer payments in national income accounting is

  1. A.money transferred to another country
  2. B.unemployment allowance paid to the citizens
  3. C.the amount paid to a worker on transfer
  4. D.transfer of funds from one bank to another
Show the answer and explanation

Answer: B (unemployment allowance paid to the citizens)

Explanation

Unemployment benefit is paid without any current work in return.