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
Improve it
More
Collect to Blossary

Other Languages:

More

Member comments

You have to log in to post to discussions.

Related terms

բաց տնտեսություն
Economy; Economics

An economy that allows the unrestricted flow of people, capital, goods and services across its borders; the opposite of a closed economy.

զագացող տնտեսություն
Economy; Economics

Spawned by the end of the colonial era in the 1950s and 1960s, a whole branch of economic theory grew up around the question of how to promote economic development in poor ...

բարեկեցիկ տնտեսություն
Economy; Economics

Economics with a heart. The study of how different forms of economic activity and different methods of allocating scarce resources affect the well being of different individuals ...

նորմատիվային տնտեսություն
Economy; Economics

Economics that tries to change the world, by suggesting policies for increasing economic welfare. The opposite of positive economics, which is content to try to describe the world ...

փակ տնտեսություն
Economy; Economics

An economy that does not take part in inter¬national trade; the opposite of an open economy. At the turn of the century about the only notable example left of a closed economy is ...

վարկանիշ
Economy; Economics

A guide to the riskiness of a financial instrument provided by a ratings agency, such as Moody’s, Standard and Poor’s and Fitch IBCA. These measures of credit quality are mostly ...

նորմավորում
Economy; Economics

Although economists say that rationing is what the price mechanism does, what most people think of as rationing is an alternative to letting prices determine how scarce economic ...

իրական փոխարժեք
Economy; Economics

An exchange rate that has been adjusted to take account of any difference in the rate of inflation in the two countries whose currency is being exchanged.

իրական տոկոսադրույք
Economy; Economics

The interest rate less the rate of inflation.

անկում
Economy; Economics

Broadly speaking, a period of slow or negative economic growth, usually accompanied by rising unemployment. Economists have two more precise definitions of a recession. The first, ...

շահաբաժին
Economy; Economics

A payment of income by a company to its shareholders.

Terms in the News

Featured Terms

Tatevik Gyulamiryan
  • 0

    Terms

  • 0

    Blossaries

  • 2

    Followers

Industry/Domain: Education Category: Teaching

բանավոր հմտություններ

skills or abilities in oral speech, ability of speech, fluency in speaking

Contributor

Featured blossaries

Oil Painting

Category: Arts   1 22 Terms

Super-Villains

Category: Entertainment   2 9 Terms

Browers Terms By Category

TERMS

SOCIAL

EXTRAS

SOLUTIONS