Answer: Option (D). demand for smartphones to increase, and both the price of smartphones and quantity of smartphones traded would rise.
Explanation: Economic boom is a period of economic expansion resulting in higher GDP, lower unemployment and rising asset prices. Economic boom positively affect the key economic indicators will rise. Gross domestic product, which measures a nation’s economic output increases and productivity increases in return. Economic boom will increase the demand for smartphones and will in turn increase both the price of smartphones and quantity of smartphones and quantity of smartphones traded would rise.
