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What are the national figures?
National income figures:
• Do not measure social, non-economic, quality of life indicators as like life expectancy that access to education like crudely measured through HDI
• Overlook the undeclared output value as an example, subsistence farming as well as shadow economy
• Avoid the impact of negative externalities
• Overlook sustainability matters
• Inequality questions as like income distribution and regional standard of living variations are disregarded
Keynesian economics policy could be distinguished from the classical economics as the main through of the classical theory is that supply creates its own demand which is described
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Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape?
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