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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Key Topics Across All Competencies | - Elastic vs. Inelastic Goods - International Trade Policies (Tariffs, Quotas) - Foreign Direct Investment (FDI) Impacts - Currency Appreciation and Depreciation - Global Business Strategies and Porter's Framework - Supply and Demand Shifts |
| Topic 2: Competency 2: Political and Economic Forces | - Property Rights and the Rule of Law - Market Economy vs. Command Economy |
| Topic 3: 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 4: Competency 1: International Trade and Currency Exchange | - Impact of Interest Rates on Financial Flows and Exchange Rates - Introduction to International Trade Theories - Currency Exchange Rate Determination |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
Which term best describes a market structure of limited competition in which the market is shared by a small number of sellers?
- A. Perfect competition
- B. Oligopoly
- C. Monopoly
- D. Monopolistic competition
Correct Answer: B 🗳️
Explanation: Only visible for Dumpexams members. You can sign-up / login (it's free).
What are three characteristics of industries primed for collusion? (Choose THREE.)
- A. Perfect information for consumers
- B. Homogeneous products
- C. A small number of rivals
- D. Free entry and exit
- E. High product differentiation
- F. A price leader
Correct Answer: B,C,F 🗳️
Explanation: Only visible for Dumpexams members. You can sign-up / login (it's free).
In a monopoly, which statements are likely true? (Choose TWO.)
- A. Entry is free in the long run
- B. Firms are price takers
- C. There are barriers to entry into the market
- D. One seller offers a unique good with no close substitutes
- E. Marginal revenue equals price
Correct Answer: C,D 🗳️
Explanation: Only visible for Dumpexams members. You can sign-up / login (it's free).
What is one of the three primary strategies that nonfinancial companies use to cope with currency risks?
- A. Reducing currency liabilities
- B. Keeping low inventories
- C. Using foreign dealers for their goods
- D. Strategic hedging
Correct Answer: D 🗳️
Explanation: Only visible for Dumpexams members. You can sign-up / login (it's free).
Which pillar of formal institutions represents the coercive power of governments?
- A. Cognitive
- B. Regulatory
- C. Normative
- D. Cultural
Correct Answer: B 🗳️
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