Between 2006 and 2008, the average price of homes decreased by what percent?

Which of the following would not be a result of replacing the income tax with a consumption tax so that interest income was no longer taxed?

a. The interest rate would decrease. b. Investment would decrease. c. The standard of living would eventually rise. d. The supply of loanable funds would shift right.

Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely competitive market at $10 per unit. Its total fixed costs are $100 and its average variable cost is $3 at 20 units of output. This corporation:

A. should close down in the short run. B. is maximizing its profits. C. is realizing a loss of $60. D. is realizing an economic profit of $40.