PLZZZ HELP!
1) A country with a significant shadow economy has a GDP of $1.5 billion.
It is estimated that 50,000 illegal gambling transactions occurred, with an average value of $20. If these transactions were added to the GDP, what would be the increase?
a) $1 million
b) $1 billion
c) $1.6 billion
d) $1.7 billion
e) $3 billion
Answers
Answer 1
Answer:
$1 million
Explanation:
There are 50,000 transactions at an average of 20 dollars
50000*20 = 1,000,000
This is one million dollars
The increase to the GDP by the illegal gambling transactions is $1 million
