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

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

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WGU Global Economics for Managers (C211, UZC2) 認定 Global-Economics-for-Managers 試験問題 (Q93-Q98):

質問 # 93
If the demand for a good is inelastic, what is true?

A. Price and total revenue move in opposite directions
B. Quantity demanded responds substantially to price changes
C. Quantity demanded responds only slightly to price changes
D. Consumers are highly sensitive to price changes

正解：C

解説：
InGlobal Economics for Managers, demand isinelasticwhenquantity demanded responds only slightly to changes in price, making option B correct.
Inelastic demand is common for necessities, goods with few substitutes, or goods that represent a small portion of income. When demand is inelastic, price and total revenue move in the same direction.
Options A, C, and D describe elastic demand.
Thus, option B correctly defines inelastic demand.

質問 # 94
Which term best describes an economic condition in which a nation exports more than it imports?

A. Resource mobility
B. Mercantilism
C. Trade deficit
D. Trade surplus

正解：D

解説：
A trade surplus occurs when a country exports more goods and services than it imports during a given period.
This means foreign buyers purchase more from the country than the country purchases from abroad. Option A is correct because it accurately describes a positive balance of trade. A trade deficit is the opposite condition, where imports exceed exports. Mercantilism is an older trade theory that emphasized accumulating wealth through exports and limiting imports, but it is not the term for the actual trade-balance condition. Resource mobility refers to the ability of labor, capital, or other resources to move from one use or industry to another.
For managers, trade surpluses can affect currency strength, export opportunities, and international competitiveness.

質問 # 95
What is a feature of a democracy?

A. It delegates absolute political control over the population to one person or party.
B. It often results in higher risk associated with political changes that may negatively impact domestic and foreign firms.
C. It gives citizens the right to elect representatives to govern on their behalf.
D. It can and often does lead to nationalization, or expropriation, of foreign assets.

正解：C

解説：
A democracy gives citizens the right to elect representatives who govern on their behalf. Option D is correct because political participation, representative government, accountability, and civil liberties are core features of democratic systems. Democracies generally have institutional checks and balances, rule of law, and mechanisms for peaceful leadership change. These features can reduce arbitrary government action and improve transparency for businesses. Option B describes totalitarianism, where one person or party holds absolute political control. Option C describes a political risk that may occur in some countries but is not a defining feature of democracy. Option A is also incorrect because democracies usually reduce extreme political uncertainty compared with authoritarian systems, although policy changes can still affect firms. The defining feature is citizen representation through elections.

質問 # 96
What are weaknesses of the theory of mercantilism? (Choose TWO.)

A. Application of the theory reduces national wealth in the long run.
B. The theory promotes free trade.
C. The theory encourages specialization and productivity growth.
D. The theory leads to inefficient allocation of resources.
E. The theory emphasizes comparative advantage.

正解：A、D

解説：
In Global Economics for Managers, mercantilism is widely criticized for two major weaknesses: it leads to inefficient allocation of resources and reduces national wealth in the long run, making options A and B correct.
Mercantilism views global trade as a zero-sum game, where one country's gain comes at another's expense.
As a result, it emphasizes export promotion, import restrictions, and accumulation of precious metals. These policies distort market signals and push resources toward protected industries rather than their most productive uses, leading to inefficiency.
Over time, these inefficiencies reduce overall economic growth and national wealth. Protectionist measures raise prices for consumers, reduce competition, and discourage innovation. Retaliation by trading partners can further harm exports and global welfare.
Options C, D, and E describe modern trade theories, not mercantilism. Mercantilism rejects comparative advantage and free trade.
Therefore, A and B correctly identify weaknesses of mercantilism.

質問 # 97
What is a characteristic of a market economy?

A. It is in place in most of the world's countries.
B. It gives the government the primary authoritative role in the economy.
C. It leaves the planning of supply, demand, and pricing to the government.
D. It emphasizes private ownership of all factors of production.

正解：D

解説：
A market economy emphasizes private ownership of the factors of production and relies on decentralized decision making by consumers and firms. Option D is correct because private ownership is one of the defining features of market-based systems. In a market economy, prices are primarily determined by supply and demand rather than direct government planning. Firms decide what to produce based on profitability, and consumers decide what to buy based on preferences and income. Option B describes a command economy, where government has the primary authoritative role. Option C is also command-economy logic because supply, demand, and pricing are centrally planned. Option A is too broad and inaccurate because most real- world economies are mixed economies, not pure market economies.

質問 # 98
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