What term refers to payments made by the government for which no goods or services are provided?

The term that accurately describes payments made by the government for which no goods or services are provided is transfer payments. Transfer payments are typically used to rediscover income to individuals or entities, often in the form of welfare benefits, unemployment compensation, or social security payments. These payments are designed to assist those in need without requiring any direct exchange of goods or services in return.

In contrast, grants and subsidies are more specific forms of financial assistance that usually involve some expectations or stipulations, such as the promotion of specific activities, projects, or economic sectors. Public funding refers to a broader concept that encompasses all types of financial resources allocated by the government, including both transfer payments and investment in public services. Thus, transfer payments specifically capture the essence of direct government payments without corresponding goods or services exchanged.