HW Ch. 16 Melissa Bragg Econ 110, Sum 18, Section 1865 Homework: HW Ch. 16 Score

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HW Ch. 16 Melissa Bragg Econ 110, Sum 18, Section 1865 Homework: HW Ch. 16 Score: 0 of 1 pt End-of-Chapter Exercise 4.8 HYV Score: 90.78%, 27.23 of 30 pts Question Help a be two-thirds the size of its official economy. Cambodía has an official GDP 24 of 30 (29 complete) Bolivia has an official GDP per capita of $5,300, the country's undeeground economy is estimated to per capita of about $2,650, and its undesground economy is about half the size of its official economy round your response to the nearest d la When the transactors of the unde grond economy are included GDP per captain Bolivus S? Enter your answer in the answer box and then click Check Answer. Clear All remainina 8:57 . up

Explanation / Answer

The official GDP per capita of Bolivia is $5,300. The underground, economy is two-thirds of the size of the official GDP. Therefore, the contribution of the underground economy to the per capita income of Bolivia = 2/3 * $5,300 = $3,533.33.

Therefore, when the transactions in the underground economy are considered, GDP per capita in Bolivia is = $5,300 + $3,533.33 = $8,833.33.

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