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| Section | Objectives |
|---|---|
| Topic 1: Foundations of Economics | - Scarcity, opportunity cost, and economic reasoning - Market systems and economic models |
| Topic 2: Managerial Economic Decision-Making | - Risk and uncertainty in global markets - Cost-benefit analysis in business contexts |
| Topic 3: Microeconomics for Managers | - Supply and demand analysis - Elasticity and pricing decisions - Market structures and competition |
| Topic 4: Macroeconomic Environment | - Fiscal and monetary policy - GDP, inflation, and unemployment |
| Topic 5: Global Economics | - Exchange rates and currency systems - Global economic institutions and trade policy - International trade and comparative advantage |
>> Global-Economics-for-Managers模擬体験 <<
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質問 # 113
Which statement characterizes an institution-based view of global business?
正解：C
解説：
The institution-based view of global business argues that firm behavior and strategy are shaped by the interaction between firms and institutions. Option A is correct because it captures the central proposition:
firms do not make decisions in isolation; they operate within formal and informal institutional constraints.
Formal institutions include laws, regulations, property rights, and political systems. Informal institutions include norms, ethics, customs, and cultural expectations. These institutions reduce uncertainty and influence what strategies are acceptable, legitimate, and profitable. Option B is too narrow because institutions include more than government regulation. Option C is incorrect because firms still make strategic choices. Option D is wrong because financial motivations remain important, but they operate within institutional limits.
質問 # 114
Which entrant is able to erect significant barriers for other entrants?
正解：A
解説：
InGlobal Economics for Managers, afirst moveris a firm that enters a market early and is often able toerect significant barriers to entry, making option B correct.
First movers can secure scarce resources, establish strong brand recognition, achieve economies of scale, and set technological or industry standards. These advantages make it difficult for later entrants to compete effectively.
Late movers benefit from reduced uncertainty but rarely control key assets. Contenders and dodgers are strategic responses to multinational enterprises, not timing-based entry categories.
Therefore, option B correctly identifies the entrant most capable of erecting significant entry barriers.
質問 # 115
Point A is on the same indifference curve as Point B. What can be said about the points?
正解：A
解説：
InGlobal Economics for Managers, anindifference curverepresents all combinations of goods that provide the same level of satisfaction (utility)to a consumer. If Point A and Point B lie on the same indifference curve, the consumer isindifferentbetween the two bundles, making option B correct.
This means the consumer derives equal satisfaction from either bundle and has no preference for one over the other. Movement along an indifference curve reflects trade-offs between goods while maintaining constant utility.
Options A and D relate to cost, which is irrelevant to indifference curves. Option C is incorrect because preference differences occur only when points lie on different indifference curves.
Thus, option B correctly describes the implication of two points on the same indifference curve.
質問 # 116
Which good tends to have elastic demand?
正解：B
解説：
A good with close substitutes tends to have elastic demand because consumers can easily switch to another product when its price rises. Option A is correct. Elastic demand means quantity demanded responds strongly to price changes. For example, if one brand of bottled water increases in price and many similar brands are available, consumers can quickly shift purchases. This makes the seller more constrained when raising prices.
Goods with few substitutes, necessities, or small budget shares tend to have less elastic demand.
Complements affect cross-price relationships, but having many or few complements does not directly define whether demand for the good itself is elastic. Tangibility also does not determine elasticity. For managers, elasticity is critical because it affects pricing strategy, revenue forecasting, and competitive positioning.
質問 # 117
When the Federal Reserve decreases the money supply, what is the result?
正解：B
解説：
When the Federal Reserve decreases the money supply, aggregate demand decreases because borrowing becomes more expensive and less credit is available. Option B is correct because the quantity of goods and services demanded at any given price level falls. A lower money supply tends to raise interest rates, which discourages consumer borrowing, business investment, and interest-sensitive purchases such as homes, vehicles, and capital equipment. This shifts the aggregate demand curve left. Option A is not the standard macroeconomic result. Option C is too narrow and incorrectly states that demand increases. Option D is also incorrect because contractionary monetary policy does not directly increase aggregate demand for imports.
For managers, tighter monetary policy can reduce sales forecasts, investment plans, and expansion opportunities.
質問 # 118
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