Question
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?
Please provide IN-TEXT Citations and Credible references with the response. Thanks!
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Intermediate Accounting
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
10th Canadian Edition, Volume 1
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