Final answer:
A remittance is a monetary gift or payment sent by an individual working abroad to their family in their home country, which plays an essential role in supporting the family and contributes to the economy of the home country. The correct option is B.
Step-by-step explanation:
The type of monetary gift or payment you've referred to, involving a person working in one country who sends funds to their family in a less wealthy country, is known as remittance. Often, people immigrate to find work and part of the money they earn, which forms the remittances, is sent back to their family to support them financially.
For example, Mexican illegal immigrants commonly send remittances to their families back home in Mexico. In 2022, migrants internationally sent approximately $800 billion in remittances.
Such transfers are crucial as they can be a significant source of income for families in poorer countries and can substantially contribute to the home country's economy. The correct option is B.