Final answer:
Add a series CAGR by selecting 'GDP per hour worked, constant prices' from the drop-down menu and choosing 'Annual growth/change' for the same period as GDP per capita data. Once the data is gathered, calculate the same using a CAGR formula and process vector addition accordingly.
Step-by-step explanation:
To add a series Compound Annual Growth Rate (CAGR) associated with GDP per hour worked, the student must first select relevant data. Following the instructions provided, the student needs to go to the "Subject" drop-down menu, choose "GDP per hour worked, constant prices," and under "Measure" select "Annual growth/change."
The same years for which the GDP per capita data was selected should be used. This ensures consistency and accuracy for comparative analysis.
After selecting the data, the student can calculate CAGR using the formula: CAGR = (Ending Value/Beginning Value)^(1/n) - 1, where 'n' is the number of years. Rounding the results to two decimal places keeps the data clean and comparable. This process helps to measure the annual growth rate of real GDP per hour worked over a specified time period, indicating productivity changes.
When handling multiple vectors in any mathematical or physics problem, such as in the provided example of Figure 5.4, vectors are added head-to-tail to determine the resultant sum of the vectors, as instructed in the question text regarding GDP data.
This same principle applies in situations where more than two vectors are involved, continuously placing arrows tip to tail and drawing an arrow from the tail of the first vector to the head of the last vector to establish the resultant.