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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Competency 2: Political and Economic Forces | - Market Economy vs. Command Economy - Property Rights and the Rule of Law |
| Topic 2: Competency 3: Economic Decision-Making by Firms and Customers | - Firm Behavior Under Different Market Structures (Perfect Competition, Monopoly, Oligopoly) - Consumer Behavior (Budget Constraint, Indifference Curves) |
| Topic 3: Key Topics Across All Competencies | - International Trade Policies (Tariffs, Quotas) - Supply and Demand Shifts - Currency Appreciation and Depreciation - Foreign Direct Investment (FDI) Impacts - Global Business Strategies and Porter's Framework - Elastic vs. Inelastic Goods |
| Topic 4: Competency 1: International Trade and Currency Exchange | - Introduction to International Trade Theories - Currency Exchange Rate Determination - Impact of Interest Rates on Financial Flows and Exchange Rates |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
Which good tends to have elastic demand?
- A. A good with many complements
- B. A good that is tangible
- C. A good with close substitutes
- D. A good with few complements
Correct Answer: C 🗳️
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What is deadweight cost?
- A. The lost potential from pursuing one activity at the expense of another, given the alternatives
- B. A government payment to a domestic firm
- C. A tariff levied on imports that are selling below cost in order to unfairly drive domestic firms out of business
- D. A net loss that occurs in an economy as a result of tariffs
Correct Answer: D 🗳️
Explanation: Only visible for ActualCollection members. You can sign-up / login (it's free).
One view of globalization claims that human civilization has always had some type of globalization.
Which view is it?
- A. The technological convergence view
- B. The modern institutional view
- C. The long-run historical view
- D. The short-run economic view
Correct Answer: C 🗳️
Explanation: Only visible for ActualCollection members. You can sign-up / login (it's free).
Costs that do not vary with output quantity divided by the quantity of output is best described by which term?
- A. Total cost
- B. Average fixed cost
- C. Marginal cost
- D. Average variable cost
Correct Answer: B 🗳️
Explanation: Only visible for ActualCollection members. You can sign-up / login (it's free).
What is one of the three primary strategies that nonfinancial companies use to cope with currency risks?
- A. Keeping low inventories
- B. Reducing currency liabilities
- C. Using foreign dealers for their goods
- D. Strategic hedging
Correct Answer: D 🗳️
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