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2. What category does a boiler fall into?

  • Compulsory
  • Non-Durable
  • Durable
  • Necessity

3. Which of these is not a cause of shifts in the LRAS?

  • Changes in relative productivity
  • Taxation
  • Technological advances
  • Migration

4. Name the correct term for the measurement of how much additional income is saved.

  • Marginal Propensity to Save
  • Average Propensity to Save
  • CPS
  • Savings interest

5. Why does the AS curve slope upwards?

  • To show the basic economic problem of unlimited wants and limited resources
  • Because higher prices for goods and services make output more profitable
  • Because higher prices for goods and services make demand more profitable
  • To parallel the rising prices of a steady inflation rate
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