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What does the log-likelihood measure?
Private Investment
The expenditure by private (non-government) firms on capital goods, such as equipment, buildings, and inventory investments.
Tax System
The legal framework and methods by which a government collects money from individuals and businesses to fund public services and infrastructure.
Economic Growth
A rise in the economy's production of goods and services across a certain timeframe, usually assessed using GDP.
Demographic Transition
The shift in a population from high birth and death rates to low birth and death rates, often associated with industrialization and improved living standards.
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