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One of the weaknesses of the GDP measurements of the size of the economy is the lack of accounting for the underground economy. What is

One of the weaknesses of the GDP measurements of the size of the economy is the lack of accounting for the "underground economy." What is this and in what way does it create measurement problem? In what circumstances would this underground economy be large or small?

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The underground economy also known as the informal or shadow economy refers to economic activities that are not officially recorded regulated or taxed ... blur-text-image

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