Gross Domestic Product (GDP) levels tend to be somewhat understated, since they don't include any illegal activities, which can represent a significant portion of some countries' production.
Answer the following statement true (T) or false (F)
True
GDP levels tend to be somewhat understated, since they don't include any illegal activities—such as paying undocumented nannies and gardeners, or selling illegal drugs—which can represent a significant portion of some countries' production. See 2-6: Evaluating Economic Performance: What's Working?
You might also like to view...
The lag that arises because policymakers may not immediately get up-to-date statistics on economic variables is known as the ____ lag.
A. implementation B. recognition C. data D. decision
When a cash disbursement in payment of an accounts payable is recorded
a. the liability account is increased b. the income statement is changed c. the cash account is unchanged d. the liability account is decreased
The base unit for measuring length in the metric system is the _____________________
a. liter b. meter c. kilogram d. mole
Which of the following would decrease variable costs?
a. Reduction in rent expense b. Reduction in research expenditure c. Reduction in salaries of administrative department d. Reduction in wages paid as direct labor