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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Foundations of Economics | - Scarcity, opportunity cost, and economic reasoning - Market systems and economic models |
| Topic 2: Microeconomics for Managers | - Supply and demand analysis - Elasticity and pricing decisions - Market structures and competition |
| Topic 3: Macroeconomic Environment | - GDP, inflation, and unemployment - Fiscal and monetary policy |
| Topic 4: Global Economics | - Exchange rates and currency systems - International trade and comparative advantage - Global economic institutions and trade policy |
| Topic 5: Managerial Economic Decision-Making | - Cost-benefit analysis in business contexts - Risk and uncertainty in global markets |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
What is the Nash equilibrium?
- A. A particular situation between two entities that illustrates why cooperation is difficult to maintain even when it is mutually beneficial
- B. An agreement among firms in a market over production and price
- C. A group of firms illegally acting in unison to improve profits or dominate a market
- 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 🗳️
Explanation: Only visible for Prep4pass members. You can sign-up / login (it's free).
Which methods does the Federal Reserve use to alter reserve quantities? Choose three answers.
- A. Selling stock shares
- B. Raising inflation
- C. Raising the discount rate
- D. Buying bonds
- E. Selling bonds
- F. Raising income tax rates
Correct Answer: C,D,E 🗳️
Explanation: Only visible for Prep4pass members. You can sign-up / login (it's free).
In a monopoly, which statements are likely true? (Choose TWO.)
- A. Firms are price takers
- B. Entry is free in the long run
- C. There are barriers to entry into the market
- D. Marginal revenue equals price
- E. One seller offers a unique good with no close substitutes
Correct Answer: C,E 🗳️
Explanation: Only visible for Prep4pass members. You can sign-up / login (it's free).
When producing a piece of luggage, the marginal cost is $92 and the marginal revenue is $81. What is the best action for the firm?
- A. Restart production
- B. Increase production
- C. Decrease production
- D. Enter the market
Correct Answer: C 🗳️
Explanation: Only visible for Prep4pass members. You can sign-up / login (it's free).
In which situation is the contender strategy appropriate for responding to multinational enterprises (MNEs)?
- A. There is low industry pressure to globalize, and competitive assets are transferable abroad.
- B. There is high industry pressure to globalize, and competitive assets are transferable abroad.
- C. There is low industry pressure to globalize, and competitive assets are customized to home markets.
- D. There is high industry pressure to globalize, and competitive assets are customized to home markets.
Correct Answer: D 🗳️
Explanation: Only visible for Prep4pass members. You can sign-up / login (it's free).
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