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What is the effect on real GDP per person if labor productivity increases?
Passive Resource
A passive resource refers to an economic asset that requires no active management or labor input to generate income or value.
Capital
Assets or resources that are used to generate income or make an investment, including buildings, machinery, and equipment.
Office Buildings
Structures designed and used primarily for hosting business offices and other professional or administrative services, ranging from small single-tenant buildings to large skyscrapers.
Economic Growth
An increase in the production of goods and services in an economy over a period of time, measured by the change in real GDP.
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