WAEC Economics 2019 Objective — Question 32
Question 32 of 50 from the West African Examinations Council (WAEC) Economics 2019 Objective paper, with the correct answer and a full explanation.
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Which of the following items is not considered as a transfer payment?
- A. pension pay
- B. Government subsidy
- C. students grants
- D. Doctor's salaryCorrect
Explanation
A transfer payment is income received without a corresponding good or service being provided in return (e.g. pensions, subsidies, grants). A doctor's salary, by contrast, is income that is earned through work.
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