Which of the following statements about the underground economy is true?
A) Most transactions that occur in the underground economy are included in the calculation of GDP.
B) Excluding underground economy production from measured GDP causes errors in GDP growth estimates in the long run.
C) Income that is earned but not reported as income for tax purposes is included in the calculation of GDP.
D) The underground economy in developing countries amounts to less than 10% of measured GDP.
B
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In the long run, what level of economic profits can a monopolistic competitor expect to receive?
A) positive B) zero C) negative D) either negative or positive, depending on the demand for its product and its costs
The GHG permitting requirements
a. are applicable to both mobile and stationary sources b. will not be in force until 2016 c. are part of the New Source Review requirements d. all of the above