black economynoun [ C usually singular ]
uk/ˌblæk ɪˈkɒn.ə.mi/us/ˌblæk ɪˈkɑː.nə.mi/business activity and income that people do not record in order to avoid paying tax on it
Thesaurus: synonyms and related words
Economics
- autarchy
- broad money
- Chancellor of the Exchequer
- credit crunch
- depressed
- downturn
- economics
- expenditure
- GDP per capita
- GNI
- hyperinflation
- market forces
- mixed economy
- pecuniary
- protectionism
- retail price index
- spending
- stall
- trade figures
- upturn
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Examples from literature
- On benefit, the welfare rule is strict on not-working, while by assumption the black economy can be neglected.