Chapter 1 How Your Choices Affect Income

You should not let the state of the economy (stage of the business cycle) affect your spending habits and choices.

• True

• False

Lifelong learning will help you stay employed by preparing you for changes in the skills or education required for your job.

• True

• False

All of the following are forms of verbal communication except

• telephone conversations

• hand gestures

• video conferences

• emails

If average annual income for all workers is $37,000 and a person with a bachelor’s degree can expect to earn 32 percent more than average, what is the average annual income for persons holding bachelor’s degrees (round to the nearest thousand)?

• $11,840

• $48,440

• $49,000

Provide five pieces of advice you would give to someone going on a job interview.

• Think before you speak

• Dress appropriately

• Practice opened ended questions

• Go alone

• Arrive on time

Why is lifelong learning important for long-term career success?

• It's not important

• you stop learning when you get a job

•  will help prepare you to be a skilled worker and an informed consumer.

• you stop learning when you graduate high school

A thank-you letter sent to the interviewer is a form of _______to show appreciation and remind the employer of your interest.

• follow-up

• resume

• interview

• • cover letter

Which of the following is not good advice regarding resumes?

• Carefully proofread to ensure the resume has no keying, spelling, or grammar mistakes.

• Keep each resume to one page with the most important information on the top third of the page.

• Use a variety of fancy fonts and style elements to ensure the resume stands out from others.

• Tailor each resume to the job for which you are applying.

During periods of (stage of business cycle), people are optimistic and spending money, businesses are hiring, and factories are increasing production.

• Peak

• Recovery

• Recession

• Trough

List the four stages of the business cycle.

• Peak

• Recession

• Trough

• Recovery