Which of the following is not true regarding the underground economy?
A) On average, for the 2000 to 2012 time period, it is estimated that the underground economy accounted for between 16 and 17 percent of GDP in OECD countries.
B) On average, for the 2000 to 2012 time period, it is estimated that the underground economy accounted for between 30 and 50 percent of GDP in emerging economies.
C) The underground economy is estimated to have exceeded 60 percent in Bolivia, Panama, and Zimbabwe.
D) The underground economy in the United States decreased from 8 percent of GDP in 1970 to less than 4 percent in 2003.
E) Large underground economies can create problems for public policy makers.
Correct Answer:
Verified
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