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WGU Global-Economics-for-Managers Exam Syllabus Topics:

SectionObjectives
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)
Competency 1: International Trade and Currency Exchange- Currency Exchange Rate Determination
- Introduction to International Trade Theories
- Impact of Interest Rates on Financial Flows and Exchange Rates
Key Topics Across All Competencies- International Trade Policies (Tariffs, Quotas)
- Foreign Direct Investment (FDI) Impacts
- Elastic vs. Inelastic Goods
- Global Business Strategies and Porter's Framework
- Supply and Demand Shifts
- Currency Appreciation and Depreciation
Competency 2: Political and Economic Forces- Market Economy vs. Command Economy
- Property Rights and the Rule of Law

WGU Global Economics for Managers (C211, UZC2) Sample Questions:

Question #1

Barriers to entry in a market are the main cause of monopolies. Which statement is accurate when the barrier to entry has its source in government regulation?

  • A. A key resource required for production is owned by a single firm.
  • B. A single firm has the exclusive legal right to produce some good or service.
  • C. A single firm can supply a good or service to an entire market at a lower cost than two or more firms could.
  • D. Economies of scale allow a firm to create output at a lower cost than other competitors.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #2

What is a tariff levied on imports that are selling below cost in order to unfairly drive domestic firms out of business?

  • A. Factor endowment
  • B. Antidumping duty
  • C. Deadweight cost
  • D. Opportunity cost
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

When the Federal Reserve decreases the money supply, what is the result?

  • A. The quantity of goods and services demanded for one specific price increases.
  • B. The quantity of goods and services demanded for any given price decreases.
  • C. The aggregate demand for imports increases.
  • D. The efficiency of market corrections is reduced.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #4

Which statements concerning property rights are true? (Choose TWO.)

  • A. Securing property rights results in industries that employ little fixed capital and avoid long-term investment.
  • B. Property rights are the legal rights regarding the use of an economic resource and for deriving income and benefits from it.
  • C. Developing countries can achieve economic growth even without securing property rights.
  • D. Protection of property rights is commonly recognized as a major factor in allowing developing countries to make gains toward economic progress.
  • E. The primary purpose of establishing property rights is to provide economic benefit to society as a whole.
  • F. Insecure property rights bode well in global competition where firms benefit from economies of scale and sustained R & D.
Reveal Solution  Discussion  0

Correct Answer: B,D  🗳️

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Question #5

What is opportunity cost?

  • A. The explicit monetary cost of an activity
  • B. The marginal benefit of an additional unit
  • C. The lost potential from pursuing one activity at the expense of another, given the alternatives
  • D. The total cost of all inputs used in production
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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