Home > Terms > Armenian (HY) > ստվերային տնտեսություն
ստվերային տնտեսություն
If you pay your cleaner or builder in cash, or for some reason neglect to tell the taxman that you were paid for a service rendered, you participate in the black or underground economy. Such transactions do not normally show up in the figures for GDP, so the black economy may mean that a country is much richer than the official data suggest. In the United States and the UK, the black economy adds an estimated 5—10% to GDP; in Italy, it may add 30%. As for Russia, in the late 1990s estimates of the black economy ranged as high as 50% of GDP.
0
0
Improve it
- Part of Speech: noun
- Synonym(s): black economy_₀
- Blossary:
- Industry/Domain: Economy
- Category: Economics
- Company: The Economist
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Industry/Domain: Sociology Category: General sociology
էլեկտրոնային առևտուր
Numerous ways that people with access to the Internet can do business from their computers.
Contributor
Featured blossaries
Browers Terms By Category
- Algorithms & data structures(1125)
- Cryptography(11)
Computer science(1136) Terms
- Alcohol & Hydroxybenzene & Ether(29)
- Pigments(13)
- Organic acids(4)
- Intermediates(1)
Organic chemicals(47) Terms
- Printers(127)
- Fax machines(71)
- Copiers(48)
- Office supplies(22)
- Scanners(9)
- Projectors(3)
Office equipment(281) Terms
- General architecture(562)
- Bridges(147)
- Castles(114)
- Landscape design(94)
- Architecture contemporaine(73)
- Skyscrapers(32)
Architecture(1050) Terms
- Capacitors(290)
- Resistors(152)
- Switches(102)
- LCD Panels(47)
- Power sources(7)
- Connectors(7)