After 2009, the Price of Tablets Fell Each Year and Manufacturers

question 266

Multiple Choice

After 2009, the price of tablets fell each year and manufacturers of tablets produced and sold more tablets each year. This result is because the

• A) "law of supply" does not apply to companies in the "high-tech" sector of the economy.
• B) "law of demand" does not apply to customers in the "high-tech" sector of the economy.
• C) supply curve of tablets shifted rightward.
• D) demand curve for tablets shifted leftward.

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Definitions:

Full Employment

Refers to a situation in an economy where all available labor resources are being used in the most efficient way possible, typically characterized by the absence of cyclical unemployment.

Unemployment Insurance

A government program that provides financial assistance to individuals who have lost their jobs through no fault of their own, to help them meet expenses while they search for new employment.

Disposable Income

Post-income tax monetary resources that households can allocate for both savings and lifestyle expenditures.

Recession

A notable decrease in economic performance affecting the whole economy for an extended period beyond just several months, often observed in indicators such as real GDP, actual income, employment levels, production in industries, and sales in both wholesale and retail sectors.