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Social Security payments, welfare payments, and veterans' payments that the government makes directly to households are called government public transfer payments.
What are government public transfer payments?
- Transfer payments are initiatives by municipal, state, and federal governments to redistribute money to individuals in need.
- Social Security and unemployment insurance are popular types of transfer payments in the United States.
- Corporate bailouts and subsidies are not typically referred to as transfer payments.
- Government transfer payments include Social Security payouts, unemployment insurance benefits, and welfare payments.
- Taxes are considered transfer payments.
As it is given in the description itself, government transfer payments include Social Security payouts, unemployment insurance benefits, and welfare payments.
Therefore, Social Security payments, welfare payments, and veterans' payments that the government makes directly to households are called government public transfer payments.
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Social Security payments, welfare payments, and veterans' payments that the government makes directly to households are called government public _____ payments.