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Typically, Google calculates the importance of a page by the number of such votes it receives. Not only that, Google also evaluates the importance of the pages that are involved in the voting process.

Consequently, pages that are themselves ahead in ranking and are important in that way also help to make other pages important. One thing to note here is that Google's technology does not involve human intervention in anyway and uses the inherent intelligence of the internet and its resources to determine the ranking and importance of any page.