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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Global Economics | - International trade and comparative advantage - Global economic institutions and trade policy - Exchange rates and currency systems |
| Topic 2: Foundations of Economics | - Market systems and economic models - Scarcity, opportunity cost, and economic reasoning |
| Topic 3: Microeconomics for Managers | - Elasticity and pricing decisions - Market structures and competition - Supply and demand analysis |
| Topic 4: Macroeconomic Environment | - Fiscal and monetary policy - GDP, inflation, and unemployment |
| Topic 5: Managerial Economic Decision-Making | - Risk and uncertainty in global markets - Cost-benefit analysis in business contexts |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
What are examples of intellectual property? (Choose TWO.)
- A. A tariff
- B. A patent
- C. A subsidy
- D. A trademark
Correct Answer: B,D 🗳️
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What is the Nash equilibrium?
- A. A group of firms illegally acting in unison to improve profits or dominate a market
- B. A particular situation between two entities that illustrates why cooperation is difficult to maintain even when it is mutually beneficial
- C. An agreement among firms in a market over production and price
- D. A situation in which economic actors interacting with one another each choose their best strategy from among all available strategies currently being used by said actors
Correct Answer: D 🗳️
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An import tariff is implemented on apples. What is the effect on domestic government revenue?
- A. It remains unchanged
- B. It decreases
- C. It increases
- D. It becomes negative
Correct Answer: C 🗳️
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What is the profit maximization condition for a monopoly?
- A. When price equals marginal cost
- B. When marginal cost is minimized
- C. When total revenue is maximized
- D. When marginal revenue equals marginal cost
Correct Answer: D 🗳️
Explanation: Only visible for DumpsMaterials members. You can sign-up / login (it's free).
What measures how the quantity demanded of one good responds to a change in the price of another good?
- A. Equilibrium elasticity of demand
- B. Cross-price elasticity of demand
- C. Price elasticity of demand
- D. Quantity elasticity of demand
Correct Answer: B 🗳️
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