A § 501(c)(3) Organization That Otherwise Would Be Classified as a Private

question 36

Multiple Choice

A § 501(c) (3) organization that otherwise would be classified as a private foundation can avoid such classification if it satisfies:

• A) Only an external support test.
• B) Only an internal support test.
• C) Both an external support test and an internal support test.
• D) An external support test, an internal support test, and a good faith test.

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Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource.

Average Product

Output per unit of a particular input.

Perfect Competitor

An idealized firm that has no market power and operates in a market with many buyers and sellers where all have perfect information.

Income Effect

It refers to the change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.