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

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

1. Which quantity measures the market value of all final goods and services produced within a country in a given period of time?

A) Net domestic product (NDP)
B) Gross national income (GNI)
C) Gross domestic product (GDP)
D) National disposable income

2. If the demand for a good is elastic, what is true?

A) Price and total revenue move in the same direction.
B) Total revenue increases with a change in price in either direction.
C) The quantity demanded responds substantially to changes in the price.
D) The quantity demanded responds only slightly to changes in the price.

3. Which changes increase demand? (Choose TWO.)

A) A decrease in consumer income for a normal good
B) A decrease in the price of a complement
C) An increase in the price of a substitute
D) An increase in the price of the good itself

4. 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) Pause production
B) Decrease production
C) Exit the market
D) Increase production

5. The benefit attributed to firms that enter a market before other firms in the same market segment is best described by which term?

A) First-mover advantage
B) Competitive neutrality
C) Economies of scope
D) Late-mover advantage

Solutions: