Global-Economics-for-Managers Simulationsfragen, Global-Economics-for-Managers Fragenpool

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

Section	Objectives
Macroeconomic Environment	- GDP, inflation, and unemployment - Fiscal and monetary policy
Microeconomics for Managers	- Market structures and competition - Supply and demand analysis - Elasticity and pricing decisions
Foundations of Economics	- Scarcity, opportunity cost, and economic reasoning - Market systems and economic models
Managerial Economic Decision-Making	- Risk and uncertainty in global markets - Cost-benefit analysis in business contexts
Global Economics	- International trade and comparative advantage - Global economic institutions and trade policy - Exchange rates and currency systems

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Global-Economics-for-Managers PrüfungGuide, WGU Global-Economics-for-Managers Zertifikat - WGU Global Economics for Managers (C211, UZC2)

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WGU Global Economics for Managers (C211, UZC2) Global-Economics-for-Managers Prüfungsfragen mit Lösungen (Q111-Q116):

111. Frage
An institution-based view of global business focuses on the specific relationship between which two entities?

A. Firms and institutions
B. Customers and institutions
C. Customers and firms
D. Firms and governments

Antwort: A

Begründung:
InGlobal Economics for Managers, theinstitution-based view of global businessfocuses on the relationship betweenfirms and institutions, making option D the correct answer. This perspective argues that firm strategies and performance are shaped not only by industry conditions and firm resources but also by the institutional environment in which firms operate.
Institutions include bothformal rules(laws, regulations, property rights) andinformal constraints(norms, cultures, and ethical standards). Firms must align their strategies with these institutions to gain legitimacy, reduce uncertainty, and operate effectively. Governments are important institutional actors, but the institution- based view extends beyond governments to include social norms and cultural expectations.
Options A and B overlook the strategic role of institutions. Option C is too narrow, as it limits the relationship to firms and governments rather than the full institutional framework.
Thus, option D accurately reflects the institution-based view emphasized in global managerial economics.

112. Frage
An import tariff is implemented on apples. What is the effect on domestic government revenue?

A. It increases
B. It remains unchanged
C. It becomes negative
D. It decreases

Antwort: A

Begründung:
InGlobal Economics for Managers, animport tariffgeneratesgovernment revenue, making option C correct.
A tariff is a tax on imported goods. When apples are imported and subject to a tariff, the government collects revenue equal to the tariff rate multiplied by the quantity imported. Although the quantity of imports usually declines after a tariff is imposed, the government still earns revenue on remaining imports.
This revenue comes at the expense of consumers, who face higher prices, and contributes to deadweight loss.
However, from the government's perspective, tariff revenue increases.
Thus, option C is correct.

113. Frage
Which good tends to have elastic demand?

A. A good with few complements
B. A good that is tangible
C. A good with many complements
D. A good with close substitutes

Antwort: D

Begründung:
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.

114. Frage
What is one characteristic of a market shortage?

A. Price is greater than the equilibrium price.
B. There is downward pressure on price.
C. Quantity demanded is less than equilibrium quantity.
D. Quantity supplied is less than equilibrium quantity.

Antwort: D

Begründung:
InGlobal Economics for Managers, amarket shortageoccurs whenquantity demanded exceeds quantity suppliedat the current price. A defining characteristic of a shortage is thatquantity supplied is less than the equilibrium quantity, making option D correct.
Shortages typically arise when prices are set below equilibrium, such as under price controls. At these lower prices, consumers demand more, while producers supply less, creating excess demand.
Option A describes a surplus condition. Option B contradicts the definition of shortage. Option C is incorrect because shortages createupward, not downward, pressure on prices.
Thus, option D correctly identifies a characteristic of a market shortage.

115. Frage
Which statement about the GDP deflator is true?

A. It follows a nearly strict decreasing pattern from a base year.
B. It is a more reliable indicator of economic well-being than real GDP.
C. It includes fewer core economic measurements than GDP.
D. Its percentage change from one year to the next is the inflation rate.

Antwort: D

116. Frage
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