1. Which was the first state to fight illegal economic activity?
State of the Union
Commonwealth of Massachusetts
Commonwealth of Virginia
all of the above
2. Hawala banking requires
a. a written contract
b. trust
c. a handshake
d. b and c only
3. Underground economy is also known as
underdog economy
shadow economy
black or parallel economy
all of the above
4. Which of the following is a major attribute of the hawala system?
It is not enforceable
It does not utilize the forex market
Simplicity
all of above