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Explain Why the Contribution of Capital Per Hour Worked to the Growth

question 12

Essay

Explain why the contribution of capital per hour worked to the growth rate of real GDP is multiplied by one-third in the growth accounting formula.


Definitions:

Population Density

The measure of the number of individuals living in a given area, often per square mile or square kilometer.

Witnesses

Individuals who see or experience an event and are able to provide a testimony about it.

Altruistic Personality

A personality trait characterized by the inclination to help others selflessly without expecting any reward.

Altruistic Tendencies

The inclination to act in a selfless manner, prioritizing the welfare of others even at a personal cost, reflecting a fundamental aspect of human social behavior.

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