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

SectionObjectives
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)
Key Topics Across All Competencies- International Trade Policies (Tariffs, Quotas)
- Supply and Demand Shifts
- Elastic vs. Inelastic Goods
- Foreign Direct Investment (FDI) Impacts
- Currency Appreciation and Depreciation
- Global Business Strategies and Porter's Framework
Competency 2: Political and Economic Forces- Property Rights and the Rule of Law
- Market Economy vs. Command Economy
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:

Question #1

Barriers to entry in a market are the main cause of monopolies. Which statement is accurate when the barrier to entry has its source in government regulation?

  • A. Economies of scale allow a firm to create output at a lower cost than other competitors.
  • B. A single firm has the exclusive legal right to produce some good or service.
  • C. A single firm can supply a good or service to an entire market at a lower cost than two or more firms could.
  • D. A key resource required for production is owned by a single firm.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #2

If the demand for a good is inelastic, what is true?

  • A. Consumers are highly sensitive to price changes
  • B. Quantity demanded responds substantially to price changes
  • C. Quantity demanded responds only slightly to price changes
  • D. Price and total revenue move in opposite directions
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

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. Increase production
  • B. Pause production
  • C. Decrease production
  • D. Exit the market
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #4

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

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

Correct Answer: A,C  🗳️

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Question #5

What happens when the Federal Reserve increases the money supply?

  • A. The aggregate supply curve shifts to the left
  • B. The aggregate demand curve shifts to the left
  • C. The aggregate demand curve shifts to the right
  • D. The aggregate supply curve shifts to the right
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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