During the Last Decade, the Price of a Computer Fell

question 170

Multiple Choice

During the last decade, the price of a computer fell every year and the quantity sold increased every year. This experience suggests that the

• A) ʺlaw of supplyʺ was definitely contradicted.
• B) demand curve shifted rightward.
• C) supply curve shifted rightward.
• D) ʺlaw of demandʺ was definitely contradicted.

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Definitions:

Encoding

The process by which information is transformed into a form that can be stored in memory.

Retrieval

The process of accessing and bringing into consciousness information stored in memory.

Shopping List

A list of items to be purchased at a store, often used as a reminder and to organize shopping trips.

Recall

The mental process of retrieving information from the past.