Question : GDP used by economists to measure a nation's total production, : 10414
GDP is used by economists to measure a nation's total production, so clearly they don't want the calculation of GDP to miss any significant amounts of production that take place. Still, every country, including the U.S., has people who conceal their buying and selling of goods and services from the government; this activity is referred to as the "underground economy, " and its existence means that measurement of GDP isn't capturing some production that is taking place. Aside from obvious cases of people buying or selling illegal products or services, why else might someone wish to conceal their production from the government? Can you provide an example of such activity?
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SolvedEconomics 3 Years Ago 269 Views