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

2. In an oligopoly with an initial agreement to maximize total profit, which statements might a firm motivated by self-interest likely make? (Choose THREE.)

A) "If my fellow firms fail to live up to the agreement and raise production, I am better off raising production myself."
B) "Regardless of what my fellow firms do, I am better off raising production beyond the agreed-to level."
C) "If my fellow firms live up to the agreement, I am better off raising production."
D) "I should always cooperate, regardless of outcomes."
E) "I am better off reducing output below the agreed level."

3. In order to increase the money supply, what does the Federal Reserve do?

A) Raises the federal funds rate
B) Buys government bonds from the public
C) Increases reserve requirements
D) Sells government bonds to the public

4. What are represented by formal institutions?

A) Laws
B) Cultural beliefs
C) Social norms
D) Traditions

5. What is true about producer surplus?

A) It equals total revenue
B) It is used to measure the well-being of sellers
C) It measures the well-being of consumers
D) It measures social welfare

Solutions: