Question: The state of California has one of the largest economies in the world. In fact, it is so large it competes with:

Answer: countries

Question: _____ is an economic system in which most of the economy’s resources are privately owned and managed.

Answer: capitalism

Question: _____ is a decrease in purchasing power of the dollar.

Answer: Inflation

Question: Everything listed below helps to create a strong housing market except a(n):

Answer: low affordability index.

Question: To work as a real estate salesperson or broker in California, you must have:

Answer: a high school diploma, real estate license, and life insurance policy

Question: Emblements are:

Answer: personal property.

Question: A leasehold is occasionally called a(n):

Answer: less-than-freehold estate.

Question: The holder of a life estate may not _____ the property.

Answer: will

Question: A right of lessee can be described as the:

Answer: right to exclusive possession.

Question: A(n) _____ may be unilaterally terminated by a lessor or lessee.

Answer: tenancy at will