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

Section	Objectives
Topic 1: Foundations of Economics	- Scarcity, opportunity cost, and economic reasoning - Market systems and economic models
Topic 2: Managerial Economic Decision-Making	- Risk and uncertainty in global markets - Cost-benefit analysis in business contexts
Topic 3: Macroeconomic Environment	- Fiscal and monetary policy - GDP, inflation, and unemployment
Topic 4: Microeconomics for Managers	- Supply and demand analysis - Elasticity and pricing decisions - Market structures and competition
Topic 5: Global Economics	- Exchange rates and currency systems - International trade and comparative advantage - Global economic institutions and trade policy

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최신 Courses and Certificates Global-Economics-for-Managers 무료샘플문제 (Q41-Q46):

질문 # 41
Which good tends to have elastic demand?

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

정답：C

설명：
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.

질문 # 42
What does the Federal Reserve do to expand aggregate demand? (Choose TWO.)

A. Lower the interest rate
B. Reduce the quantity of reserves
C. Increase the foreign exchange rate
D. Raise mortgage rates
E. Increase the money supply
F. Decrease the money supply

정답：A,E

설명：
InGlobal Economics for Managers, the Federal Reserve expands aggregate demand byincreasing the money supplyandlowering interest rates, making options B and C correct.
Increasing the money supply provides banks with more reserves, encouraging lending. Lower interest rates stimulate borrowing by households and firms, increasing consumption and investment. Both channels raise aggregate demand.
The remaining options contract demand rather than expand it. Therefore, B and C are correct.

질문 # 43
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 supplied is less than equilibrium quantity.
D. Quantity demanded is less than equilibrium quantity.

정답：C

설명：
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.

질문 # 44
What is the profit maximization condition for a monopoly?

A. When marginal cost is minimized
B. When marginal revenue equals marginal cost
C. When price equals marginal cost
D. When total revenue is maximized

정답：B

설명：
InGlobal Economics for Managers, the profit-maximizing condition forall firms, including monopolies, is whenmarginal revenue (MR) equals marginal cost (MC), making option B correct.
A monopolist faces a downward-sloping demand curve, meaning that to sell more output, it must lower price.
As a result, marginal revenue is less than price. The firm maximizes profit by producing the quantity where the additional revenue from the last unit sold equals the additional cost of producing it.
Option A applies toperfect competition, not monopoly. Option C focuses on revenue rather than profit.
Option D has no economic meaning for profit maximization.
Thus, option B is correct.

질문 # 45
When supply decreases and demand stays the same, what happens to the equilibrium point of price and quantity? Choose two answers.

A. Quantity remains the same.
B. Price remains the same.
C. Price increases.
D. Quantity increases.
E. Quantity decreases.
F. Price decreases.

정답：C,E

설명：
When supply decreases while demand remains unchanged, the supply curve shifts left. At the original price, there is now less quantity supplied than quantity demanded, creating upward pressure on price. As price rises, consumers reduce quantity demanded until the market reaches a new equilibrium. Option A is correct because equilibrium price increases. Option E is correct because equilibrium quantity decreases. This result often occurs when input costs rise, production disruptions occur, regulation increases production costs, or natural disasters reduce available supply. Options B, C, D, and F contradict the standard supply-and-demand outcome. Managers must understand this relationship because supply disruptions can raise selling prices, reduce sales volume, affect inventory planning, and influence sourcing strategy. The basic result is higher price and lower quantity.

질문 # 46
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