Medina and Schneider (2018) from the IMF estimated that the average size of the "shadow economy" over the 1991-2015 period is 23.9% of GDP for India and 8.3% of GDP for the United States. According to the authors, "[t]he shadow economy includes all economic activities which are hidden from official authorities for monetary, regulatory, and institutional reasons."
According to the results, you would expect that the GDP per person in India and the United States will differ by than their actual amount of economic activities.
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Mr. beautiful, an organization that sells weight training sets, has an ordering cost of $40 for the bb-1 set. (bb-1 stands for body beautiful number 1.) the carrying cost for bb-1 is $5 per set per year. to meet demand, mr. beautiful orders large quantities of bb-1 seven times a year. the stockout cost for bb-1 is estimated to be $50 per set. over the past several years, mr. beautiful has observed the following demand during the lead time for bb-1: demand during lead time probability40 0.150 0.260 0.270 0.280 0.290 0.1total 1.0the reorder point for bb-1 is 60 sets. what level of safety stock should be maintained for bb-1?