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

WGU Global Economics for Managers (C211, UZC2) Sample Questions:

1. What are characteristics of monopolistic competition? (Choose THREE.)

A) Many sellers
B) One seller
C) Homogeneous products
D) Free entry and exit
E) Product differentiation

2. What is a key feature of an oligopoly?

A) Entry is free in the long run.
B) Products are always homogeneous.
C) Firms are price takers.
D) The market represents a prisoner's dilemma.

3. Which strategy for responding to multinational enterprises is appropriate in a situation in which there is low industry pressure to globalize and competitive assets are customized to home markets?

A) Contender strategy
B) Defender strategy
C) Retainer strategy
D) Responder strategy

4. What are features shared by monopolies and perfect competition? (Choose TWO.)

A) Maximum profit occurs when marginal revenue equals marginal cost.
B) The structure does not produce the welfare-maximizing level of output.
C) In the long run, new firms can easily enter the market.
D) Price is greater than marginal cost.
E) Firms earn economic profits in the short run.
F) In the long run, it is nearly impossible for new firms to enter.

5. Which statement about the GDP deflator is true?

A) It follows a nearly strict decreasing pattern from a base year.
B) Its percentage change from one year to the next is the inflation rate.
C) It includes fewer core economic measurements than GDP.
D) It is a more reliable indicator of economic well-being than real GDP.

Solutions: