Definition of underground economy in English:
North American term for black economy.
- Thus, it may be that the most widely accepted estimates of the size of the underground economy in advanced market capitalist economies rely upon estimates of the use of currency compared to GDP.
- A black market is also called an underground economy or unregulated economy.
- He defines ‘legal GDP’ as officially reported GDP minus the underground economy's GOP.
Definition of underground economy in:
- US English dictionary
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