Answer :
Final answer:
Capital deepening, an economic concept of increasing capital per worker, enhances labor productivity, thus potentially steering the economy's output upward and improving living standards.
Explanation:
According to most economic studies, capital deepening is a concept in economics where an economy increases its capital per worker. In the process, one beneficial effect observed is the enhancement in labor productivity. This means that the same amount of labor can generate more output than before. For instance, equipping a factory worker with advanced machinery (increasing capital) can lead them to produce more goods during their shift. Hence, capital deepening tends to increase an economy's output and potentially uplift the standard of living if the benefits are distributed equally.
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