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WGU Global-Economics-for-Managers Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Key Topics Across All Competencies | - Currency Appreciation and Depreciation - International Trade Policies (Tariffs, Quotas) - Supply and Demand Shifts - Foreign Direct Investment (FDI) Impacts - Elastic vs. Inelastic Goods - Global Business Strategies and Porter's Framework |
| Topic 2: Competency 1: International Trade and Currency Exchange | - Currency Exchange Rate Determination - Impact of Interest Rates on Financial Flows and Exchange Rates - Introduction to International Trade Theories |
| 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 2: Political and Economic Forces | - Property Rights and the Rule of Law - Market Economy vs. Command Economy |
WGU Global Economics for Managers (C211, UZC2) Sample Questions:
What is one of the three primary types of foreign exchange transactions?
- A. Spot transactions
- B. Arbitrage transactions
- C. Forward transactions
- D. Hedging transactions
Correct Answer: A 🗳️
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Which entrant is able to erect significant barriers for other entrants?
- A. First mover
- B. Contender
- C. Dodger
- D. Late mover
Correct Answer: A 🗳️
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Which term best describes an economic condition in which a nation exports more than it imports?
- A. Trade deficit
- B. Trade surplus
- C. Mercantilism
- D. Resource mobility
Correct Answer: B 🗳️
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What is opportunity cost?
- A. The explicit monetary cost of an activity
- B. The lost potential from pursuing one activity at the expense of another, given the alternatives
- C. The marginal benefit of an additional unit
- D. The total cost of all inputs used in production
Correct Answer: B 🗳️
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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. Exit the market
- B. Pause production
- C. Decrease production
- D. Increase production
Correct Answer: D 🗳️
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