The long-run effect of increasing government budget deficits
A) is a redistribution of real GDP from privately provided goods to government provided goods.
B) is no impact on equilibrium real GDP.
C) is to increase of price level.
D) all of the above.
D
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Refer to Figure 3-5. At a price of $20
A) there would be a surplus of 8 units. B) there would be a shortage of 4 units. C) there would be a surplus of 0 units. D) there would be a shortage of 8 units.
A Giffen good could be either a normal good or an inferior good
Indicate whether the statement is true or false
Which one of the following institutions manages Ireland's monetary policy?
(a) The Federal Reserve Bank in America. (b) The Bank of England. (c) The European Central Bank in Frankfurt. (d) The Bank of Ireland.
Refer to the information provided in Table 8.7 below to answer the following question(s).
Table 8.7 
Refer to Table 8.7. Assume that fruit baskets are sold in a perfectly competitive market. The market price of a fruit basket is $22. To maximize profits, Exotic Fruit should sell ________ fruit baskets and their profit is ________.
A. three; $5 B. four; $7 C. five; $14 D. six; $14