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

SectionObjectives
Competency 3: Economic Decision-Making by Firms and Customers- Consumer Behavior (Budget Constraint, Indifference Curves)
- Firm Behavior Under Different Market Structures (Perfect Competition, Monopoly, Oligopoly)
Competency 1: International Trade and Currency Exchange- Currency Exchange Rate Determination
- Introduction to International Trade Theories
- Impact of Interest Rates on Financial Flows and Exchange Rates
Competency 2: Political and Economic Forces- Property Rights and the Rule of Law
- Market Economy vs. Command Economy
Key Topics Across All Competencies- Currency Appreciation and Depreciation
- Global Business Strategies and Porter's Framework
- Foreign Direct Investment (FDI) Impacts
- International Trade Policies (Tariffs, Quotas)
- Elastic vs. Inelastic Goods
- Supply and Demand Shifts

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WGU Global Economics for Managers (C211, UZC2) Sample Questions (Q24-Q29):

NEW QUESTION # 24
Which statement describes one of the three views of globalization?

Answer: C

Explanation:
Globalization can be viewed from different perspectives. One view treats globalization as a relatively new force that has intensified in recent decades due to major advances in technology, transportation, communication, global finance, and international trade liberalization. This view emphasizes that modern globalization is different from earlier cross-border exchange because firms, consumers, capital markets, and supply chains are now connected at much greater speed and scale. Option B is correct because it captures the
"recent force" view of globalization. Option A is too idealistic because globalization creates both benefits and costs. Option C is incorrect because globalization is not primarily an agreement to prevent wars. Option D is also incorrect because globalization often increases innovation through competition and knowledge transfer.


NEW QUESTION # 25
The formula "fixed costs (FC) + variable costs (VC)" represents which quantity?

Answer: C

Explanation:
InGlobal Economics for Managers,total cost (TC)is defined as the sum offixed costs (FC)andvariable costs (VC), making option C correct. The formula is:
TC = FC + VC
Fixed costs do not change with output in the short run, while variable costs vary with production. Total cost captures the full cost of producing a given level of output.
Average cost divides total cost by quantity, marginal cost measures the cost of one additional unit, and implicit cost reflects opportunity costs.
Therefore, option C correctly identifies total cost.


NEW QUESTION # 26
Which statement about the GDP deflator is true?

Answer: C


NEW QUESTION # 27
When there is an expectation of lower income in the future, what is the effect on the demand curve for a normal good?

Answer: D

Explanation:
InGlobal Economics for Managers, demand for anormal goodincreases with income and decreases when income falls. If consumers expectlower future income, demand for normal goods decreases, causing the demand curve to shift left, making option A correct.
A leftward shift indicates that at every price, consumers are willing and able to purchase less of the good.
Expectations about future income influence present consumption decisions, especially for durable and discretionary goods.
Options C and D incorrectly describe movement along a demand curve rather than a shift. Option B would apply if income were expected to rise.
Therefore, option A is correct.


NEW QUESTION # 28
Which entrant is able to erect significant barriers for other entrants?

Answer: A

Explanation:
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.


NEW QUESTION # 29
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