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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| 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) |
| Key Topics Across All Competencies | - Elastic vs. Inelastic Goods - Foreign Direct Investment (FDI) Impacts - Currency Appreciation and Depreciation - International Trade Policies (Tariffs, Quotas) - Global Business Strategies and Porter's Framework - Supply and Demand Shifts |
| Competency 2: Political and Economic Forces | - Property Rights and the Rule of Law - Market Economy vs. Command Economy |
| 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 |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
Which statement about the GDP deflator is true?
- A. It includes fewer core economic measurements than GDP.
- B. It follows a nearly strict decreasing pattern from a base year.
- C. Its percentage change from one year to the next is the inflation rate.
- D. It is a more reliable indicator of economic well-being than real GDP.
Correct Answer: C 🗳️
In a monopoly, which statements are likely true? (Choose TWO.)
- A. Entry is free in the long run
- B. One seller offers a unique good with no close substitutes
- C. Marginal revenue equals price
- D. There are barriers to entry into the market
- E. Firms are price takers
Correct Answer: B,D 🗳️
Explanation: Only visible for BraindumpsIT members. You can sign-up / login (it's free).
What is one of the two major exchange rate policies?
- A. Discount rate
- B. Floating rate
- C. Fiscal rate
- D. Matched rate
Correct Answer: B 🗳️
Explanation: Only visible for BraindumpsIT members. You can sign-up / login (it's free).
In an oligopoly with an initial agreement to maximize total profit, which statements might a firm motivated by self-interest likely make? (Choose THREE.)
- A. "Regardless of what my fellow firms do, I am better off raising production beyond the agreed-to level."
- B. "If my fellow firms fail to live up to the agreement and raise production, I am better off raising production myself."
- C. "I am better off reducing output below the agreed level."
- D. "If my fellow firms live up to the agreement, I am better off raising production."
- E. "I should always cooperate, regardless of outcomes."
Correct Answer: A,B,D 🗳️
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What is a characteristic of a market economy?
- A. It found a near ideal in China and the former Soviet Union during the heydays of communism.
- B. Factors of production are government-owned or state-owned.
- C. It is defined by a government taking the authoritative role in the economy.
- D. The government takes a hands-off approach known as laissez-faire.
Correct Answer: D 🗳️
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