In economics, what term is used to describe a concentration of efforts toward producing one type of goods?

Changes in the federal funds rate usually result in

A) changes in both short-term and long-term interest rates with more of an effect on short-term interest rates. B) changes in both short-term and long-term interest rates with equal effect on both. C) changes in both short-term and long-term interest rates with more of an effect on long-term interest rates. D) no change in either short-term or long-term interest rates.

Refer to the above figure. Suppose that the supply curve shifts from SA to SB while the demand curve remains at DA. Which of the following is TRUE?

A) Only quantity supplied has increased. B) Only quantity demanded has decreased. C) Supply has increased. D) Supply has decreased.