Question

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

Answer 1

1 million

Step-by-step explanation:

Find the value of illegal gambling transactions:

20 x 50,000= 1,000,000

Answer 2

$1 million

Step-by-step 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