Multiple Choice
Which of the following transactions would take place in the 'underground economy'?
A) Elizabeth tells her mother she's going to work but really goes to see a movie.
B) Paul buys 15 litres of petrol for $1.45 per litre, not realising that 40 cents per litre of that price goes to the government as tax revenue.
C) John makes chain-link belts and necklaces and sells them at a local market for cash to avoid paying taxes.
D) Matt bought an iPhone for $400 but decided to sell it on eBay instead of keeping it.
Correct Answer:
Verified
Correct Answer:
Verified
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