What is a transfer payment? Why does the gov-ernment engage in such transfers?
Answer to relevant QuestionsWhy is some of the federal government's spending on agriculture considered a transfer payment? Imagine two government budgets, each $100. The first allocates $50 to the provision of public goods and $50 to transfer payments. The other allocates $75 to the provision of public goods and $25 to transfer payments. If GDP ...Explain why some economists believe the burden of a public debt cannot be shifted onto future generations. Many Detroit autoworkers do not buy the argument that everybody gains in international trade. What's their point? Suppose the United States imposed a $100 tariff on each Japanese VCR imported. What would happen to the equilibrium price and total quantity bought and sold in the United States?
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