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| Section | Weight | Objectives |
|---|---|---|
| International Trade Theory and Policy | 25% | - Classical and Modern Trade Theories
|
| Global Finance and Monetary Systems | 25% | - Foreign Exchange Markets
|
| Foundations of Global Economics | 20% | - Economic Systems and Institutions
|
| Macroeconomics for Managers | 10% | - Economic Indicators and Policies
|
| Foreign Direct Investment and Global Strategy | 20% | - Global Business Strategy
|
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NEW QUESTION # 121
What is an example of goods that tend to have negative cross-price elasticities?
Answer: A
Explanation:
InGlobal Economics for Managers,complementary goodshavenegative cross-price elasticity, making option C correct.
When the price of one good rises, demand for its complement falls. Examples include cars and gasoline or printers and ink.
Substitutes have positive cross-price elasticity. Inferior and luxury goods relate to income elasticity, not cross- price elasticity.
Thus, option C is correct.
NEW QUESTION # 122
What is an example of a company that is market-seeking?
Answer: B
Explanation:
In Global Economics for Managers , a market-seeking company is one that invests in or enters a foreign location primarily to serve local or regional customers , making option C the correct answer. Market- seeking behavior is driven by demand-side considerations rather than cost or resource availability.
Option C describes a firm searching for a location where there is high consumer interest in camping supplies , which directly reflects a desire to access and serve a specific market. Such firms are motivated by factors like market size, growth potential, consumer preferences, and proximity to customers. Market-seeking firms often establish foreign subsidiaries, sales offices, or production facilities to adapt products to local tastes and respond quickly to demand.
Option A describes a resource-seeking firm, focused on obtaining low-cost or specialized inputs. Option B also reflects resource-seeking behavior, specifically in extractive industries. Option D describes a cost- seeking (efficiency-seeking) firm that locates production in regions with low labor costs.
Global Economics for Managers classifies foreign direct investment motives into market-seeking, resource- seeking, efficiency-seeking, and strategic asset-seeking. Market-seeking investment is particularly common in consumer goods and service industries, where understanding local preferences is critical for success.
For managers, recognizing market-seeking motives helps guide decisions about location, marketing strategy, and product adaptation. Thus, option C accurately illustrates a market-seeking company.
NEW QUESTION # 123
Costs that do not vary with output quantity divided by the quantity of output is best described by which term?
Answer: C
Explanation:
Average fixed cost is calculated by dividing fixed costs by the quantity of output. Fixed costs are costs that do not change with production volume in the short run, such as rent, certain license fees, salaried administrative expenses, or fixed internet service costs. Option D is correct because the question specifically says "costs that do not vary with output quantity," which identifies fixed costs, and then says those costs are divided by quantity. Total cost equals fixed cost plus variable cost. Marginal cost is the additional cost of producing one more unit. Average variable cost divides variable costs by output. Average fixed cost usually declines as output increases because the same fixed cost is spread across more units. This is why higher production can reduce per-unit fixed cost.
NEW QUESTION # 124
What is a key feature of an oligopoly?
Answer: A
Explanation:
InGlobal Economics for Managers, oligopolies are often modeled as aprisoner's dilemma, making option B correct.
Firms face incentives to cooperate for mutual gain but also incentives to cheat to maximize individual profit.
This tension explains price rigidity, collusion instability, and strategic behavior.
Other options describe competitive markets or are not universally true.
Thus, option B is correct.
NEW QUESTION # 125
What are common types of barriers to entry that can cause a monopoly? (Choose TWO.)
Answer: B,C
Explanation:
InGlobal Economics for Managers, monopolies arise whenbarriers to entryprevent competitors from entering a market. Two common barriers arecontrol of a key resourceandeconomies of scale, making options A and B correct.
When a single firm owns a unique or scarce resource, competitors cannot produce the good without access to that resource. Economies of scale create monopolies when one firm can produce at a lower average cost than multiple firms due to high fixed costs.
Options C, D, and E promote competition rather than monopoly.
Thus, options A and B correctly identify monopoly-creating barriers to entry.
NEW QUESTION # 126
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