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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Global Economics | - Exchange rates and currency systems - Global economic institutions and trade policy - International trade and comparative advantage |
| Topic 2: Managerial Economic Decision-Making | - Cost-benefit analysis in business contexts - Risk and uncertainty in global markets |
| Topic 3: Foundations of Economics | - Market systems and economic models - Scarcity, opportunity cost, and economic reasoning |
| Topic 4: Microeconomics for Managers | - Market structures and competition - Supply and demand analysis - Elasticity and pricing decisions |
| Topic 5: Macroeconomic Environment | - Fiscal and monetary policy - GDP, inflation, and unemployment |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
1. When is it best for a firm to decrease production?
A) When the price of a unit covers the average variable cost after a short-term stop.
B) When the average variable cost is less than the price of a unit after a short-term stop.
C) When marginal cost is greater than marginal revenue.
D) When total revenue is greater than total cost.
2. When is it best for a firm to increase production?
A) When average cost is minimized
B) When marginal revenue is greater than marginal cost
C) When total revenue is maximized
D) When marginal cost exceeds marginal revenue
3. What is one characteristic of a market shortage?
A) Quantity demanded is less than equilibrium quantity.
B) There is downward pressure on price.
C) Price is greater than the equilibrium price.
D) Quantity supplied is less than equilibrium quantity.
4. What is a key feature of an oligopoly?
A) The market represents a prisoner's dilemma.
B) Firms are price takers.
C) Products are always homogeneous.
D) Entry is free in the long run.
5. What happens when the Federal Reserve increases the money supply?
A) The aggregate demand curve shifts to the left
B) The aggregate supply curve shifts to the right
C) The aggregate demand curve shifts to the right
D) The aggregate supply curve shifts to the left
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: C |
