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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: 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) |
| Topic 2: Competency 2: Political and Economic Forces | - Property Rights and the Rule of Law - Market Economy vs. Command Economy |
| 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: Key Topics Across All Competencies | - Supply and Demand Shifts - Currency Appreciation and Depreciation - Elastic vs. Inelastic Goods - Global Business Strategies and Porter's Framework - Foreign Direct Investment (FDI) Impacts - International Trade Policies (Tariffs, Quotas) |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
1. What is deadweight cost?
A) A tariff levied on imports that are selling below cost in order to unfairly drive domestic firms out of business
B) The lost potential from pursuing one activity at the expense of another, given the alternatives
C) A government payment to a domestic firm
D) A net loss that occurs in an economy as a result of tariffs
2. What are costs to home countries of foreign direct investment (FDI)? (Choose TWO.)
A) Reduced standard of living
B) Loss of intellectual property
C) Job loss
D) Capital outflow
E) Cultural disintegration
F) Loss of sovereignty
3. Which pillar of formal institutions represents the coercive power of governments?
A) Regulatory
B) Cognitive
C) Normative
D) Cultural
4. 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) Pause production
D) Decrease production
5. Which goods have a positive cross-price elasticity?
A) Complements
B) Shortage goods
C) Normal goods
D) Substitutes
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C,D | Question # 3 Answer: A | Question # 4 Answer: B | Question # 5 Answer: D |
