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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 | - Consumer Behavior (Budget Constraint, Indifference Curves) - Firm Behavior Under Different Market Structures (Perfect Competition, Monopoly, Oligopoly) |
| Topic 2: Key Topics Across All Competencies | - Supply and Demand Shifts - Global Business Strategies and Porter's Framework - Currency Appreciation and Depreciation - International Trade Policies (Tariffs, Quotas) - Elastic vs. Inelastic Goods - Foreign Direct Investment (FDI) Impacts |
| Topic 3: Competency 1: International Trade and Currency Exchange | - Introduction to International Trade Theories - Currency Exchange Rate Determination - Impact of Interest Rates on Financial Flows and Exchange Rates |
| Topic 4: 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:
How does the Federal Reserve lower the federal funds rate?
- A. By purchasing government bonds
- B. By raising reserve requirements
- C. By selling government bonds
- D. By increasing taxes
Correct Answer: A 🗳️
Explanation: Only visible for ActualTestsQuiz members. You can sign-up / login (it's free).
In an oligopoly with an initial agreement to maximize total profit, which statements might a firm motivated by self-interest likely make? (Choose THREE.)
- A. "I should always cooperate, regardless of outcomes."
- B. "If my fellow firms fail to live up to the agreement and raise production, I am better off raising production myself."
- C. "Regardless of what my fellow firms do, I am better off raising production beyond the agreed-to level."
- D. "If my fellow firms live up to the agreement, I am better off raising production."
- E. "I am better off reducing output below the agreed level."
Correct Answer: B,C,D 🗳️
Explanation: Only visible for ActualTestsQuiz members. You can sign-up / login (it's free).
Which quantity measures the market value of all final goods and services produced within a country in a given period of time?
- A. Gross domestic product (GDP)
- B. Net domestic product (NDP)
- C. Gross national income (GNI)
- D. National disposable income
Correct Answer: A 🗳️
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What is true about gross domestic product (GDP)?
- A. It is thought to be the single best measure of a society's economic well-being.
- B. It places heavier weight on intangible services than tangible goods.
- C. Its year-to-year percentage change represents the inflation rate.
- D. It includes the income of citizens working abroad.
Correct Answer: A 🗳️
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What is a characteristic of a market economy?
- A. Factors of production are government-owned or state-owned.
- B. The government takes a hands-off approach known as laissez-faire.
- C. It is defined by a government taking the authoritative role in the economy.
- D. It found a near ideal in China and the former Soviet Union during the heydays of communism.
Correct Answer: B 🗳️
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