"When an economic boom raises people's income, the price of restaurant meals rises." Demand curve shifts to the right
Explanation:
A period of time when there is an expansion in the economy occurs is the Boom Period. This period helps in lowering the rate of unemployment, the prices of assets will be increased, GDP will increase and the rate of inflation will be higher. The demand curve will shift right during the period of Boom.
There will be a shift of demand curve to right during the period where there is no change in price occurs. It will happen in a period of time where the demand increase even though there is no change in price of any product or service. The demand curve will be shifting to left during the period of recession.
