Transfer Payments

question 389

Multiple Choice

Transfer payments

• A) are included in the government expenditure category in gross domestic product.
• B) refer to all payments made to households by governments.
• C) refer to payments made by the government that are not made to purchase a good or service.
• D) are made by households to firms in exchange for goods and services.

---

Definitions:

Control Function

An essential management activity that involves measuring actual performance, comparing it against set standards, and taking corrective action to ensure goal achievement.

Feedback

Information or reactions about a process or activity that is used as a basis for improvement.

Revise Plans

The process of reviewing and updating strategic, operational, or project plans based on new information or changes in circumstances.

Lean Business Model

A strategic approach to running a company that emphasizes creating more value for customers with fewer resources.