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

WGU Global Economics for Managers (C211, UZC2) Sample Questions:

1. What is a feature of a democracy?

A) It delegates absolute political control over the population to one person or party.
B) It often results in higher risk associated with political changes that may negatively impact domestic and foreign firms.
C) It gives citizens the right to elect representatives to govern on their behalf.
D) It can and often does lead to nationalization, or expropriation, of foreign assets.

2. When an import tariff is placed on footwear, which quantity increases?

A) Consumer surplus for footwear
B) The quantity of footwear imported
C) Domestic demand for footwear
D) Producer surplus for footwear

3. What is deadweight cost?

A) A government payment to a domestic firm
B) A tariff levied on imports that are selling below cost in order to unfairly drive domestic firms out of business
C) A net loss that occurs in an economy as a result of tariffs
D) The lost potential from pursuing one activity at the expense of another, given the alternatives

4. When supply increases and demand stays the same, what happens to the equilibrium point of price and quantity?

A) Price remains the same
B) Quantity increases
C) Price increases
D) Quantity decreases

5. One view of globalization claims that human civilization has always had some type of globalization.
Which view is it?

A) The short-run economic view
B) The modern institutional view
C) The long-run historical view
D) The technological convergence view

Solutions: