Which of the following is true about underground economies?
a. Underground economies represent a greater percentage of GDP in developing countries than in developed countries.
b. Higher taxation and labor regulation are reasons why we see more underground activities
c. The underground economy includes legal activities that are concealed for the purpose of tax evasion.
d. all of the above
d
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Refer to Scenario 1-1. Using marginal analysis terminology, what is another economic term for the incremental revenue received from the sale of the last 400 t-shirts?
A) sales revenue B) gross earnings C) gross profit D) marginal revenue
A change in which of the following will cause the aggregate demand curve to shift?
a) energy prices b) productivity rates c) consumer wealth d) prices of inputs e) prices of consumer goods