Without an increase in the supplies of factors of production, how can a nation achieve economic growth?
A) by producing more high-value goods and fewer low-value goods
B) by increasing the prices of factors of production
C) through technological advancement which enables more output with the same quantity of resources
D) by lowering the prices of factors of production
C
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The growth over time in the spread between price and marginal cost of an exhaustible resource is equal to
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