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WGU Global Economics for Managers (C211, UZC2) Sample Questions:
1. What is true about tariffs?
A) They increase the domestic quantity demanded.
B) They lower the price of affected imported goods below the world price.
C) They encourage consumers to reduce their consumption.
D) They increase the quantity of imports.
2. What is one of the OLI advantages outlined by John Dunning for why firms become multinational enterprises by engaging in foreign direct investment?
A) Ownership advantages
B) Internalization advantages
C) Location advantages
D) Competitive neutrality
3. Which factors increase a country's currency exchange value? Choose two answers.
A) A fall in productivity
B) A rise in the interest rate
C) A fall in population
D) A rise in productivity
E) A rise in inflation
F) Political unrest
4. What is the Nash equilibrium?
A) A situation in which economic actors interacting with one another each choose their best strategy from among all available strategies currently being used by said actors
B) A particular situation between two entities that illustrates why cooperation is difficult to maintain even when it is mutually beneficial
C) A group of firms illegally acting in unison to improve profits or dominate a market
D) An agreement among firms in a market over production and price
5. What are examples of regulatory pillars? (Choose TWO.)
A) Coasting through stop signs because it is common
B) Stealing office supplies because most colleagues are doing the same thing
C) Investing in foreign currencies because others view it as safe
D) Refusing military service because of pacifist beliefs
E) Paying parking tickets out of fear of a suspended driver's license
F) Reporting a crime because it is against the law to withhold information
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: B,D | Question # 4 Answer: A | Question # 5 Answer: E,F |
By Bernice
