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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Key Topics Across All Competencies | - Supply and Demand Shifts - Foreign Direct Investment (FDI) Impacts - Elastic vs. Inelastic Goods - Currency Appreciation and Depreciation - International Trade Policies (Tariffs, Quotas) - Global Business Strategies and Porter's Framework |
| Topic 2: Competency 2: Political and Economic Forces | - Market Economy vs. Command Economy - Property Rights and the Rule of Law |
| Topic 3: Competency 1: International Trade and Currency Exchange | - Introduction to International Trade Theories - Impact of Interest Rates on Financial Flows and Exchange Rates - Currency Exchange Rate Determination |
| Topic 4: Competency 3: Economic Decision-Making by Firms and Customers | - Consumer Behavior (Budget Constraint, Indifference Curves) - Firm Behavior Under Different Market Structures (Perfect Competition, Monopoly, Oligopoly) |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
What is a tariff levied on imports that are selling below cost in order to unfairly drive domestic firms out of business?
- A. Antidumping duty
- B. Opportunity cost
- C. Deadweight cost
- D. Factor endowment
Correct Answer: A 🗳️
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What are represented by formal institutions?
- A. Traditions
- B. Social norms
- C. Cultural beliefs
- D. Laws
Correct Answer: D 🗳️
Explanation: Only visible for VCE4Dumps members. You can sign-up / login (it's free).
When producing a piece of luggage, the marginal cost is $92 and the marginal revenue is $81. What is the best action for the firm?
- A. Restart production
- B. Increase production
- C. Decrease production
- D. Enter the market
Correct Answer: C 🗳️
Explanation: Only visible for VCE4Dumps members. You can sign-up / login (it's free).
The marginal cost of producing a computer is $600, but the marginal revenue is $1,000. What is the best action for the respective firm?
- A. Exit the market
- B. Increase production
- C. Decrease production
- D. Pause production
Correct Answer: B 🗳️
Explanation: Only visible for VCE4Dumps members. You can sign-up / login (it's free).
When there is an expectation of lower income in the future, what is the effect on the demand curve for a normal good?
- A. The demand curve shifts right.
- B. The demand curve shifts up.
- C. The demand curve shifts left.
- D. The demand curve shifts down.
Correct Answer: C 🗳️
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