I remember something about google stopping that sort of behavior, I'm not sure but there is/was an ebook about getting ad sense for free that works on the bases of buying clicks from adwords cheap and selling the clicks on your site for a higher amount
had a quick look at click bank and found this
Google Adsense Arbitrage Voodoo Fortunes. You Too Can Make A Fortune Using Google Ad sense Arbitrage Voodoo Techniques. By Following Our Ad Sense Arbitrage Guide You Can Buy Dirt Cheap Ad words Traffic - From $0.01/click And Instantly Flip It For As High As $1/click.
so by the looks of it it may be OK to do that, but remember the google quality score if your landing page is nothing to do with the keyword you bid on google will quickly up the amount you have to pay for that click from pennies to pounds
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