The Lost Decade refers to the years between approximately

Consider the demand curves for soft drinks shown in the figure above. Suppose the economy is at point a. What of the following could result in a movement to point b?

A) an increase in the price of bottled water B) a decrease in the price of bottled water C) an increase in the opportunity cost of soft drinks D) a decrease in the relative price of a soft drink

Which of the following would shift the supply curve for smartphones to the right?

A) an increase in consumer income (assuming that all smartphones are normal goods) B) an increase in the price of a substitute in production C) a decrease in the price of an input used to produce smartphones D) a decrease in the number of firms that produce smartphones