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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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When he was chosen for the real estate agent position, he sent us this thank you note:

“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.

Midterm

Navigation   » List of Schools  »  Glendale Community College  »  Economics  »  Econ 101 – Microeconomics  »  Fall 2022  »  Midterm

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

Question #1
If a company knows the demand curve for their product is inelastic, which of the following is true?
A  They would gain revenue from a small price increase and they would lose revenue from a small price decrease
B  They would gain revenue from a small price decrease and they would lose revenue from a small price increase
C  They would gain revenue from a small price decrease
D  They would lose revenue from a small price increase
Question #2
If the cross elasticity of demand between products A and B is negative, this implies:
A  products A and B are substitutes, if the price falls for B the demand for A rises
B  products A and B are substitutes, if the price falls for B the demand for A falls
C  products A and B are complements, if the price falls for B the demand for A falls
D  products A and B are unrelated
E  products A and B are complements, if the price falls for B the demand for A rises
Question #3
Which of the following could be the income elasticity of demand for bus rides (assuming this consumer does not enjoy taking the bus)?
A  1
B  -0.5
C  0
D  0.5
E  None of the choices
Question #4
A company is currently selling 100,000 products a year at a price of $10 each. Through market research they know that if they were to lower the price to $8 they would sell 110,000 products a year
Which of the following is most likely being described in the question?
A  Necessity
B  An item that represents a large portion of consumers’ income
C  An item that consumers can quickly and easily change their consumption of
D  An item with many substitutes
E  Luxury
Question #5
A company is currently selling 100,000 products a year at a price of $10 each. Through market research they know that if they were to lower the price to $8 they would sell 110,000 products a year.
Which of the following is true about the elasticity of demand for this product at the prices given?
A  Ed = 0.4, demand is inelastic
B  Ed = 2.3, demand is elastic
C  Ed = 0.4, demand is elastic
D  c. Ed = 0.9, demand is inelastic
E  Ed = 0.9, demand is elastic
Question #6
Which of the following is not an example of fiscal policy?
A  increasing taxes
B  decreasing taxes
C  increasing interest rates
D  a public works project to rebuild a bridge
E  cutting subsidies for the agriculture industry
Question #7
For goods that create a negative externality, which of the below policies would help bring production in line with societally optimal levels?
A  All of the choices
B  A subsidy to buyers
C  A subsidy to producers
D  A tax on producers
E  None of the choices
Question #8
Assume the demand and supply for college in Los Angeles in a year are represented by the equations below. Assume P = tuition price and Q = degrees earned per year.
Supply: P = 10,000 + Q
Demand: P = 100,000 – 2Q

In a free market at equilibrium (no government involvement), the number of degrees earned per year is:

A  30,000 – which is less than the societally optimal amount since education is a negative externality
B  30,000 – which is more than the societally optimal amount since education is a positive externality
C  60,000 – which is more than the societally optimal amount since education is a positive externality
D  30,000 – which is less than the societally optimal amount since education is a positive externality
E  60,000 – which is less than the societally optimal amount since education is a positive externality
Question #9
Consider the market for designer shoelaces. If the price of shoes increases, and at the same time the price of cotton (an input to the shoelace production process) decreases, what will be the effect on the equilibrium price and quantity for designer shoelaces?
A  quantity sold decreases, price may increase or decrease
B  price increases, quantity sold may increase or decrease
C  quantity sold increases, price may increase or decrease
D  price decreases, quantity sold increases
E  price decreases, quantity sold may increase or decrease
Question #10
Consider the market for computers. What effect would the creation of a new technology that allows suppliers to more efficiently produce computers have on the equilibrium price and quantity?
A  price decreases, quantity sold decreases
B  price increases, quantity sold decreases
C  price increases, quantity sold increases
D  price decreases, quantity sold increases
E  price decreases, quantity sold may increase or decrease
Question #11
Which of the following could cause demand to shift from Demand 1 to Demand 2?
A  the price of gas increases
B  the price of bicycles decreases
C  the price of bicycles increases
D  the price of gas decreases
E  None of these choices
Question #12
Use the following table on the national supply and demand of bicycles to answer questions 4 and 5. m=million

Price ($) Demand 1 Demand 2 Supply
1,000 2m 8m 20m
800 5m 16m 16m
600 12m 22m 12m
400 16m 30m 8m
200 20m 36m 4m

The equilibrium price and quantity of bicycles if Demand 1 is the market demand curve are:

A  $400 and 16m
B  $800 and 16m
C  $800 and 5m
D  $600 and 22m
E  $600 and 12m
Question #13
Which of the following will not cause a shift of either the demand or supply curve for Toyota Priuses?
A  The cost of gas increases.
B  The price of Toyota Priuses rises.
C  The price of steel used in the production of Priuses increases.
D  Consumers realize the Prius is a slow and tacky vehicle.
E  The government provides Toyota a subsidy for each car produced.
Question #14
In the resource market of the circular flow model,
A  households buy resources/labor from firms.
B  firms buy resources/labor from households and households sell resources/labor to firms.
C  households buy resources/labor from firms and firms sell resources/labor to households
D  firms sell resources/labor to households.
Question #15
Which of the following is not a characteristic of a market economy?
A  Goods and services are sold in a competitive way.
B  Monetary incentives exist for entrepreneurs who bear risk.
C  Government services are limited to basic protections such as enforcing laws and protecting the public.
D  Individuals, not the government, own the factors of production.
E  None of these choices
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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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