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

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

1. Which quantity is calculated using the formula variable costs (VC) + fixed costs (FC)?

A) Total cost (TC)
B) Implicit cost (IC)
C) Average variable cost (AVC)
D) Explicit cost (EC)

2. What are characteristics of a market economy? (Choose TWO.)

A) Supply, demand, and pricing are planned by the government.
B) It was first noted by Adam Smith in The Wealth of Nations in 1776.
C) Factors of production are government-owned or state-owned.
D) It is characterized by the "invisible hand" of market forces.
E) It found a near ideal in China and the former Soviet Union during communism.
F) It is defined by a government taking the authoritative role in the economy.

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

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

4. What is a characteristic of common law as compared to civil law?

A) Common law relies primarily on comprehensive statutes and codes.
B) Common law is based on religious teachings.
C) Common law is more reliant on precedents from previous judicial decisions.
D) Common law minimizes the role of judges.

5. In which situation is the dodger strategy appropriate for responding to multinational enterprises (MNEs)?

A) There is high industry pressure to globalize, and competitive assets are transferable abroad.
B) There is low industry pressure to globalize, and competitive assets are transferable abroad.
C) There is high industry pressure to globalize, and competitive assets are customized to home markets.
D) There is low industry pressure to globalize, and competitive assets are customized to home markets.

Solutions: