An example of a transfer payment is

A) old-age pensions.
B) a private firm's payments of dividends to stockholders.
C) military expenditures.
D) military aid to a foreign country.

Transfer Payment

A payment made by governments to individuals without any services or goods being received in return, often part of social welfare programs.

Old-Age Pensions

Retirement benefits provided by the government, employers, or other institutions to support individuals financially after they retire.

Military Expenditures

The funds spent by a country on its military forces, including salaries, equipment, and operations.