ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes-Consumer spending
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Yes-Government Spending
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No-Underground Economy
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No-Non-market activity
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Detailed explanation-1: -Key Takeaways. While estimates vary, some put the underground economy at 11% to 12% of U.S. gross domestic product (GDP), or roughly $2.25 trillion to $2.5 trillion. Elements of the underground economy vary from nation to nation, state to state, and in some cases, municipality to municipality.
Detailed explanation-2: -The official measure of GDP does not include measurements of leisure time available, nonmarket production, production in the underground economy, the distribution of income, or production externalities (e.g., pollution).
Detailed explanation-3: -GDP excludes the imports of goods and services.
Detailed explanation-4: -The four components of gross domestic product are personal consumption, business investment, government spending, and net exports.