The Skandusky Downtown Development Corporation (SDDC), a nonprofit entity, was accused by local taxpayers of being overstaffed and too lavishly accommodated for its purpose of achieving its community development goals. This accusation is an argument that the SDDC
a. is managed by stakeholders
b. staff is following the MC = MR rule
c. is an example of the Lester-Machlup controversy
d. is engaged in empire building
e. is minimizing community losses
D
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Throughout 2008, inflation and the real interest rate declined together. The cause is a combination of ________
A) monetary policy easing and declining autonomous spending B) declining autonomous spending and movement along a fixed MP curve C) monetary policy tightening and inversion of the MP curve D) increased government spending and movement along a fixed MP curve E) none of the above
A good synonym for elasticity would be
a. stability b. volatility c. stickiness d. demand e. responsiveness
If a monopolistically competitive firm incurs a total cost of $300,000 in producing 1,500 units of a good, its average cost of production is $150
a. True b. False Indicate whether the statement is true or false
If the U.S. price level increased relative to price levels in foreign countries, what would be the impact on domestic aggregate supply and aggregate demand curves?
a. the aggregate supply curve would shift outward and the aggregate demand curve would remain unchanged b. the aggregate supply curve would shift inward and the aggregate demand curve would remain unchanged c. the aggregate demand curve would shift outward and the aggregate supply curve would remain unchanged d. the aggregate demand curve would shift inward and the aggregate supply curve would remain unchanged e. the domestic aggregate demand and supply curves would remain unchanged