Question 21

Which was the first state to fight illegal economic activity?

State of the Union

Commonwealth of Massachusetts

Commonwealth of Virginia

all of the above

Question 22

Hawala banking requires

a.

a written contract

b.

trust

c.

a handshake

d.

b and c only

Question 23

Underground economy is also known as

underdog economy

shadow economy

black or parallel economy

all of the above

Question 24

Which of the following is a major attribute of the hawala system?

		It is not enforceable
		It does not utilize the forex market
		Simplicity
		all of above