An underground economy:
a. is a market where transaction occurs under the ground.
b. is a market where the buyers and sellers make transactions without the government’s approval.
c. is a market where the buyers and sellers make transactions with the government’s approval.
d. is a market that is international in scope and fully authorized to conduct business.
b. is a market where the buyers and sellers make transactions without the government’s approval.
An underground economy is a market where the buyers and sellers make transactions without the government’s approval.
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Describe the strategy of inflation targeting. Why have many countries begun to use this strategy instead of targeting money growth? What are the advantages and disadvantages of inflation targeting?
What will be an ideal response?
Originally, the threshold income level used to determine official poverty statistics was based on
A) a per capita income of $3000 in 1955 prices. B) the lowest income of the second quartile of families in the country. C) an income three times greater than necessary to purchase a nutritionally adequate diet. D) figures developed by a committee in the American Economic Association.
Clipper ships
a. allowed for profitable shipping on both short and long journeys. b. dominated Atlantic trade by 1850. c. were among the first ships to have iron hulls. d. earned huge profits transporting passengers and cargo during the gold rushes to California and Australia. e. All of the above.
Keynesian economists argue that monetary policy works through its effects on:
a. interest rates and investment. b. price- and wage-flexibility. c. budget deficits and trade deficits. d. the spending and money multipliers.