What do economists mean when they say government purchases are exhaustive expenditures whereas government transfer payments are

Question:

What do economists mean when they say government purchases are “exhaustive” expenditures whereas government transfer payments are “nonexhaustive” expenditures? Cite an example of a government purchase and a government transfer payment.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

Question Posted: