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.
C
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The automatic mechanism can best be described as:
A) the process of the economy adjusting back to potential GDP without any action taken by the government B) the result of monetary policy implemented by the Fed restoring full employment C) how fiscal policy is used to return the economy to its potential D) using rule-based policies to stabilize the economy
The effects of a price change are always understated by a partial-equilibrium analysis when compared to a general-equilibrium analysis
Indicate whether the statement is true or false