What is the underground economy?
(A) Costs of such things as personal safety, vacations, and sick pay.
(B) The goods and services people make or do themselves.
(C) The amount spent for environmental cleanup and similar products.
(D) Products and income that are not reported as income to the government.
Ans: (D) Products and income that are not reported as income to the government.
Economics
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It is assumed in standard economic theory that a firm makes decisions in an effort to
A) have a highly diversified product. B) become as large as possible. C) maximize its profits. D) maximize its revenue. E) be favoured politically.
Economics
Markets do not always allocate resources efficiently, however, government always does
a. True b. False
Economics