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| Section | Weight | Objectives |
|---|---|---|
| Foundations of Global Economics | 20% | - Economic Systems and Institutions
|
| Global Finance and Monetary Systems | 25% | - Balance of Payments and International Monetary System
|
| Macroeconomics for Managers | 10% | - Economic Indicators and Policies
|
| Foreign Direct Investment and Global Strategy | 20% | - Foreign Direct Investment (FDI)
|
| International Trade Theory and Policy | 25% | - Classical and Modern Trade Theories
|
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NEW QUESTION # 67
What are features shared by monopolies and perfect competition? (Choose TWO.)
Answer: B,E
Explanation:
In Global Economics for Managers , monopolies and perfectly competitive firms share two important features: profit maximization at MR = MC and the ability to earn economic profits in the short run , making options E and F correct.
Option E applies universally: all firms maximize profit where marginal revenue equals marginal cost , regardless of market structure. This decision rule guides output choices in both monopoly and perfect competition.
Option F is also correct because firms in both structures can earn economic profits in the short run . In perfect competition, short-run profits attract new entrants, while monopolies may sustain profits longer due to entry barriers.
Options A and B distinguish the two structures. Option C applies only to monopoly. Option D applies only to monopoly, not perfect competition.
Thus, options E and F correctly identify shared features.
NEW QUESTION # 68
When demand decreases and supply stays the same, what happens to the equilibrium point of price and quantity? (Choose TWO.)
Answer: A,D
Explanation:
InGlobal Economics for Managers, a decrease in demand with supply unchanged leads to alower equilibrium price and a lower equilibrium quantity, making options B and D correct.
A leftward shift of the demand curve creates excess supply at the original price. To eliminate the surplus, prices fall, and quantity exchanged decreases until a new equilibrium is reached.
Options A and C contradict standard supply-demand analysis.
Thus, B and D are correct.
NEW QUESTION # 69
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 # 70
When is it best for a firm to decrease production?
Answer: C
Explanation:
A firm should decrease production when marginal cost is greater than marginal revenue. Option A is correct because each additional unit costs more to produce than it brings in revenue, which reduces profit. The standard profit-maximizing rule is to produce where marginal revenue equals marginal cost. If marginal cost exceeds marginal revenue, output is too high and the firm should reduce production. Option B does not justify decreasing production because total revenue greater than total cost indicates profit. Options C and D describe conditions under which restarting or continuing production may be reasonable because price covers average variable cost. The question is about marginal decision making, not total profitability or shutdown rules. For managers, the key rule is simple: do not produce units that reduce profit.
NEW QUESTION # 71
In which situation is the contender strategy appropriate for responding to multinational enterprises (MNEs)?
Answer: A
Explanation:
InGlobal Economics for Managers, thecontender strategyis appropriate whenindustry pressure to globalize is high, but competitive assets are customized to home markets, making option B correct. This strategy is typically adopted by domestic firms facing strong competition from multinational enterprises (MNEs) in industries that are becoming increasingly global.
High pressure to globalize means that firms must compete on an international scale, often due to global customers, standardized products, or strong foreign competitors. However, when a firm's competitive assets- such as brand reputation, customer relationships, distribution networks, or regulatory knowledge-are deeply rooted in the home market, they are not easily transferable abroad. In this situation, the firm cannot immediately expand internationally without losing its competitive advantage.
Under a contender strategy, firms focus ondefending and strengthening their domestic positionwhile gradually upgrading capabilities to prepare for future global competition. This may involve improving efficiency, investing in technology, forming selective alliances, or learning from foreign competitors operating in the home market.
Option A describes conditions suitable for anextender strategy, where firms can leverage transferable assets internationally. Options C and D reflect low pressure to globalize and are more consistent with defender or dodger strategies rather than contender behavior.
Therefore, option B best captures the conditions under which the contender strategy is applied in response to MNE competition.
NEW QUESTION # 72
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