State the term national income statisticsnational income, Ask an Expert

Economics

State the term National income statistics

National income statistics underestimate the true level of economic activity, and as people's living standards, because the non-monetised economy is under-represented. In the UK, housework and 'do-it-yourself' home improvement take place without money incomes being formed. The contribution of these to living standards is imputed, but the 'guesses' are generally too low.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9574707

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