Question

Payments for which the government receives neither goods nor services in return; include Social Security, unemployment compensation, welfare, aid for people with disabilities, child care, foster care, and adoption assistance.True or False?

Answer 1

Answer:

The answer, in this case, would be True.

Explanation:

• Social security,unemployment benefits,disability aid,child care expenses,adoption assistance etc. are all parts of the the public sector or government providence to the general citizens or common people of the country.
• All of these public sector payments or expenditures are meant for the overall social and economic welfare of the common people or citizens in general.
• These payments are commonly classified or identified as transfer payments or unilateral payments/expenditures which implies that these are all one way payments or expenditures and the government does not expect any goods or services in return from the common public for providing the concerned services to them.Much of the transfer payments in the economy are financed by public taxes and financial borrowings by the government.