4) MULTIPLE CHOICE (identify the one best answer below and explain your reasoning for each option): The so-called ‘grey’ or ‘underground’ economy production is sometimes not included in the GDP calculation because: a. Many politicians smoke marihuana and do not want us to know about it. b. Workers like avoiding taxes when paid cash-in-hand. c. The associated transactions are not recorded so no reliable data exist. d. All of the above e. None of the above.

4) MULTIPLE CHOICE (identify the one best answer below and explain your reasoning for each option): The so-called ‘grey’ or ‘underground’ economy production is sometimes not included in the GDP calculation because: a. Many politicians smoke marihuana and do not want us to know about it. b. Workers like avoiding taxes when paid cash-in-hand. c. The associated transactions are not recorded so no reliable data exist. d. All of the above e. None of the above.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 3.7P

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