Which of the following best describes the concept of the underground economy?(1 point)

Responses

The underground economy refers to economic activity involving the sale of used goods and services.
The underground economy refers to economic activity involving the sale of used goods and services.

The underground economy refers to economic activity involving only the sale of final goods.
The underground economy refers to economic activity involving only the sale of final goods.

The underground economy refers to products made in the US that are sold to other countries.
The underground economy refers to products made in the US that are sold to other countries.

The underground economy refers to economic activity that is not recorded by GDP.

1 answer

The best description of the concept of the underground economy is:

The underground economy refers to economic activity that is not recorded by GDP.

This encompasses a range of activities, including unreported income, illegal transactions, and cash transactions that go untracked.