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

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

What are common types of barriers to entry that can cause a monopoly? (Choose TWO.)

  • A. Perfect information
  • B. Economies of scale in the production process
  • C. Elastic demand
  • D. A single firm owning a key resource
  • E. Free entry and exit
Reveal Solution  Discussion  0

Correct Answer: B,D  🗳️

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Question #2

When an import tariff is placed on footwear, which quantity increases?

  • A. Producer surplus for footwear
  • B. Domestic demand for footwear
  • C. Consumer surplus for footwear
  • D. The quantity of footwear imported
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #3

Which system has elements of a market economy and a command economy?

  • A. Market-command economy
  • B. Fair economy
  • C. Compromise economy
  • D. Mixed economy
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

In a monopoly, which statements are likely true? (Choose TWO.)

  • A. There are barriers to entry into the market
  • B. Marginal revenue equals price
  • C. One seller offers a unique good with no close substitutes
  • D. Firms are price takers
  • E. Entry is free in the long run
Reveal Solution  Discussion  0

Correct Answer: A,C  🗳️

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Question #5

When is it best for a firm to restart production?

  • A. When total cost is greater than total revenue
  • B. When total variable costs are less than total revenue after a short-term stop
  • C. When total revenue is less than total cost
  • D. When marginal cost is greater than marginal revenue
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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