What is black economy, economics, Microeconomics

Assignment Help:
Defining black economy,

If you pay your cleaner or builder in cash or for some reason neglect to tell the taxman which you were paid for a service rendered, you participate in the black or underground economy. Such kind of transaction transactions do not normally demonstrate up in the figures for GDP, so the black economy may mean which a country is much richer where the official data suggest. In the United States & the UK, the black economy includes an estimated 5-10% to GDP, in Italy, it may add 30%. In Russia, the late 1990s estimates of the black economy ranged as high as 50% of GDP.

Related Discussions:- What is black economy, economics

What is methodological economics, What is methodological economics? how its...

What is methodological economics? how its significance, Describe use of methodological economics...

Explain about the deadweight loss and elasticitie, Explain about the deadwe...

Explain about the deadweight loss and elasticitie s. Deadweight Loss and Elasticities The general rule for economic policy is the other things equivalent; you need to choose

Slutsky theorm, explain slutsky theorm with graphical representation

explain slutsky theorm with graphical representation

Why is the goal of stability important to many people, Why is the goal of s...

Why is the goal of stability and security important to many people?  What problems typically emerge during periods of instability? The instability over the business cycle can b

Emergence and persistence of structural imbalances, Emergence and Persisten...

Emergence and Persistence of Structural Imbalances: The period broadly corresponds to the period of the Sixth Plan and the Seventh Plan. The Sixth Plan was launched when the e

Government policy business cycle, Government Policy Business Cycle Busi...

Government Policy Business Cycle Business cycles create instability in the economy. The period of boom or rising business activities is characterised by increase in output, emp

Market supply of labour, use a graphical illustration to describe briefly w...

use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labour on an increase in immigration..

Business card etiquette, "In U.S., there is a culture of greeting people of...

"In U.S., there is a culture of greeting people of the same sex. It's not common that people give attention to the people of the opposite sex. However, in the middle class, it's a

How the classical school views the role of markets, Explain the how the cla...

Explain the how the classical school views the role of markets and government intervention in fighting business cycles The classical school believes in the smooth functioning o

Gdp, Suppose that investment spending increases by $10 million, shifting up...

Suppose that investment spending increases by $10 million, shifting up the aggregate expenditure line and increasing GDP from GDP1 to GDP2. If the MPC is 0.9, then what is the chan

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd