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As poor economies grow, the share of production that passes through formal markets rises as subsistence farmers become more integrated into markets and improved law
As poor economies grow, the share of production that passes through formal markets rises as subsistence farmers become more integrated into markets and improved law enforcement reduces black market activity. Would this process tend to raise or lower the measured rate of economic growth? Would the measured rate of economic growth tend to understate or overstate the true rate of economic growth? What is a possible solution
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