People Who Report Being Unemployed but Who, in Fact, Are

question 203

True/False

People who report being unemployed but who, in fact, are working for "under the table" pay to avoid taxes on their earnings are really employed and therefore cause the reported unemployment rate to be higher than it would otherwise be.

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Definitions:

LIBOR

London Interbank Offered Rate, a benchmark interest rate at which major global banks lend to one another.

Eurodollar Loans

Loans in U.S. dollars that are deposited in banks outside the United States, often used in international trade financing.

Overnight

Referring to transactions that occur or are settled from the end of one business day to the start of the next.

Norwegian Krone

Norway's legal tender, indicated by the abbreviation NOK.