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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Competency 2: Political and Economic Forces | - Property Rights and the Rule of Law - Market Economy vs. Command Economy |
| 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) |
| Key Topics Across All Competencies | - Currency Appreciation and Depreciation - International Trade Policies (Tariffs, Quotas) - Global Business Strategies and Porter's Framework - Foreign Direct Investment (FDI) Impacts - Supply and Demand Shifts - Elastic vs. Inelastic Goods |
| Competency 1: International Trade and Currency Exchange | - Impact of Interest Rates on Financial Flows and Exchange Rates - Currency Exchange Rate Determination - Introduction to International Trade Theories |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
1. When an import tariff is placed on footwear, which quantity increases?
A) Producer surplus for footwear
B) Consumer surplus for footwear
C) The quantity of footwear imported
D) Domestic demand for footwear
2. What is a key feature of an oligopoly?
A) Firms are price takers.
B) Entry is free in the long run.
C) The market represents a prisoner's dilemma.
D) Products are always homogeneous.
3. What does the term resource mobility describe?
A) An economic condition in which a nation exports more than it imports
B) The idea that market forces should determine how much to trade with little or no government intervention
C) The assumption that a resource removed from one industry can be moved to another
D) The idea that governments should actively defend domestic industries from imports and vigorously promote the export of resources
4. What is the most basic way for nonfinancial companies to adjust to fluctuations of the foreign exchange market?
A) Currency hedging
B) Rate locks
C) Invoicing customers in the company's currency
D) Forward transactions
5. The marginal revenue from producing a smartphone is $200, and the marginal cost is $150. What is the best action for the firm?
A) Decrease production
B) Pause production
C) Increase production
D) Exit the market altogether
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: C |
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