The underground economy can be described as
A) production of intermediate goods and services.
B) economic production that includes mining.
C) production of infrastructure that spurs growth in the rest of the economy.
D) economic activity that is hidden from the government to avoid taxes or because the activity is illegal.
D
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Find the real exchange rate for the following case: Assume that the representative basket of European goods costs 100 euros and the representative U.S. basket costs $125,
and the dollar/euro exchange rate is $0.75 per euro, then the price of the European basket in terms of U.S. basket is:
Today's corporate structures have very little in common with the joint-stock companies of colonial America
Indicate whether the statement is true or false
A unique feature of oligopolies, when compared with other industry types, is:
A. low barriers to entry. B. diminishing marginal returns. C. standardized products. D. mutual interdependence.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.