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Fresh Grad Lands Job as Real Estate Agent With Help from Professional Writers

People go to websites to get the information they desperately need.  They could be looking for an answer to a nagging question.  They might be looking for help in completing an important task.  For recent graduates, they might be looking for ways on how to prepare a comprehensive resume that can capture the attention of the hiring manager

Manush is a recent graduate from a prestigious university in California who is looking for a job opportunity as a real estate agent.  While he already has samples provided by his friends, he still feels something lacking in his resume.  Specifically, the he believes that his professional objective statement lacks focus and clarity. 

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“Kudos to the team for a job well done.  I am sincerely appreciative of the time and effort you gave on my resume.  You did not only help me land the job I had always been dreaming of but you also made me realize how important adding those specific keywords to my resume!  Cheers!

Manush’s story shows the importance of using powerful keywords to his resume in landing the job he wanted.

Test 1 Ch 1-3

Navigation   » List of Schools  »  Los Angeles Mission College  »  Economics  »  Econ 001 – Principles of Economics  »  Fall 2022  »  Test 1 Ch 1-3

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Below are the questions for the exam with the choices of answers:

Question #1
The “law of demand” implies that as prices fall, the demand shifts.
A  False
B  True
Question #2
In economics, capital refers to physical objects, not money.
A  True
B  False
Question #3
Suppose you are deciding whether to spend your tax rebate check on a new iPod player or a new digital camera. You are dealing with the concept of
A  the fallacy of composition.
B  opportunity costs.
C  comparative advantage.
D  equity.
Question #4
The “law of demand” implies that as prices decrease, the quantity demanded increases.
A  False
B  True
Question #5
Efficiency in production refers to a situation in which it is possible, given available productive resources and existing knowledge, to produce more of one good without forgoing the opportunity to produce other goods.
A  True
B  False
Question #6
A change in the quantity demanded of pizza is the same as a change in demand for pizza.
A  True
B  False
Question #7
Which of the following would an economist classify as capital?
A  a post office employee
B  a corporate bond
C  a $50 bill
D  a bull dozer used by a construction company
Question #8
Spontaneous order and hierarchy coordinate economic activity similarly.
A  True
B  False
Question #9
Elastic demand means the price has little or no effect on quantity demanded.
A  True
B  False
Question #10
Someone has a comparative advantage in producing a good if they can produce that good
A  using more capital and less labor.
B  in greater quantities.
C  using more labor and less capital.
D  at a lower opportunity cost.
Question #11
If you own a building and you decide to use that building to open a book store,
A  there is never an opportunity cost of using this building for a book store.
B  the opportunity costs always equal $100.
C  the only cost relevant to this decision is the taxes paid to the local government.
D  there is an opportunity cost of using this building for a book store because it could have been used in other ways.
Question #12
The rate of economic growth or the level of poverty in a country are topics related to microeconomics.
A  False
B  True
Question #13
Investments never require a trade-off of present consumption for future consumption.
A  True
B  False
Question #14
What does demand mean?
A  Willingness to purchase goods
B  The willingness and ability to purchase goods
C  The ability to purchase goods
D  The numerical utility
Question #15
For the company to produce at a point beyond its current Production Possibility Frontier, the firm must
A  increase its factors of production
B  be more efficient.
C  waste less.
D  reduce inputs.
Question #16
Inflation and unemployment
A  are the focus of normative economics.
B  are a focus of positive economics.
C  are a focus of macroeconomics.
D  are a focus of microeconomics.
Question #17
The “law of supply” states that as prices decrease, the quantity supplied increases.
A  True
B  False
Question #18
That which we forgo, or give up, when we make a choice or decision is called
A  real cost.
B  marginal cost.
C  opportunity cost.
D  out-of-pocket cost.
Question #19
The production possibility frontier is drawn on which of the following the assumptions?
A  The economy has a steady rate of growth.
B  Resources can be increased or decreased as needed.
C  Consumption preferences are known and fixed.
D  All scarce resources are being used efficiently.
Question #20
If the elasticity of demand for electricity is 0.13, the demand for electricity is:
A  perfectly inelastic
B  unit elastic
C  inelastic
D  elastic
Question #21
The value of the best alternative foregone is the opportunity cost of making a decision.
A  True
B  False
Question #22
If an increase in the price of gasoline causes a movement upward along the gasoline demand curve, it is anticipated that it will also cause a shift for the demand of SUVs.
A  True
B  False
Question #23
If more people become interested in reading an economics book, what will happen to the demand curve?
A  It will shift to the right.
B  It will disappear
C  It will remain constant.
D  It will shift to the left.
Question #24
In economics, investment refers to which of the following?
A  Printing more money
B  Buying stock on the stock market
C  Buying goods, such as video game systems and clothing for the winter
D  Increasing the stock of capital
Question #25
The focus on the human dimension of scarcity and choice is part of what makes economics a social science.
A  True
B  False
Question #26
The reason that opportunity costs arise is that
A  resources are scarce.
B  people never have wants.
C  an economy relies on money to facilitate exchange of goods and services.
D  there are never alternative decisions that could be made.
Question #27
Society’s wants cannot fully be satisfied with our existing resources. This issue is the problem of _____.
A  scarcity
B  opportunity cost
C  comparative advantage
D  efficiency in distribution
Question #28
The three factors of production include natural resources, capital, and freedom.
A  True
B  False
Question #29
The demand curve is always upward sloping.
A  False
B  True
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“Kudos to the team for a job well done.  I am sincerely appreciative of the time and effort you gave on my resume.  You did not only help me land the job I had always been dreaming of but you also made me realize how important adding those specific keywords to my resume!  Cheers!

Manush
Fresh Graduate
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