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National Income Accounting
Question
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What are transfer payments?

Answer

Such payments which are made without getting any good or service in exchange (return) are called transfer payments, e.g., unemployment allowance, gifts, old age pension, etc.

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Some More Questions From National Income Accounting Chapter

What is meant by macroeconomics?
or
Give two examples of macroeconomic studies. 
or
Why is study of problem of unemployment in India a macroeconomic study?

Define microeconomics. Give one/two examples of microeconomics. Is study of cotton textile industry a microeconomic study or macroeconomic study? 

Distinguish between microeconomics and macroeconomics. Give an example of showing the difference between microeconomics and macroeconomics.

Briefly explain the following basic concepts related to NI:
 National Income (NI).

Briefly explain the following basic concepts related to NI:
Final Goods and Intermediate Goods. 

Briefly explain the following basic concepts related to NI:
Consumption Goods and Capital Goods

Briefly explain the following basic concepts related to NI:
Flow and Stock Concepts

Briefly explain the following basic concepts related to NI:
Gross Investment and Net Investment

Briefly explain the following basic concepts related to NI:
Domestic (Economic) Territory

Briefly explain the following basic concepts related to NI:
Normal Residents