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Assuming That Total Factor Productivity Is Constant,describe the Effect of an Increase

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Assuming that total factor productivity is constant,describe the effect of an increase in the capital-labour ratio on the per worker production function.What happens to the marginal product of labour,the marginal product of capital,and real GDP per capita?


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Self-efficacy

An individual's belief in their own ability to complete tasks and achieve goals.

Self-esteem

An individual's subjective evaluation of their own worth, encompassing beliefs and emotions about oneself.

Self-actualization

Self-actualization is the realization or fulfillment of one's talents and potentialities, considered as the highest need in Maslow's hierarchy of needs.

Two-factor Theory

A psychological theory proposed by Herzberg that suggests job satisfaction and dissatisfaction arise from two different sets of factors: motivation and hygiene factors.

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