Which of the following most likely includes unreported income from illegal sources?
a. underground economy
b. nonmarket transactions
c. externalities
d. leisure
a. underground economy
Economics
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According to the rule of 72, a 12% annual increase in real GDP would lead to a doubling of real GDP in 8 years.
a. true b. false
Economics
When the market for a good is a natural monopoly, this results in a. improved product choice for consumers
b. many producers charging low prices for the good. c. dominance by a single producer of the good. d. increased entry by new producers of the good.
Economics