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

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

1. When supply increases and demand stays the same, what happens to the equilibrium point of price and quantity?

A) Price remains the same
B) Quantity increases
C) Quantity decreases
D) Price increases

2. What are represented by informal institutions?

A) Written laws
B) Regulations
C) Ethics
D) Rules

3. What is deadweight cost?

A) A net loss that occurs in an economy as a result of tariffs
B) A tariff levied on imports that are selling below cost in order to unfairly drive domestic firms out of business
C) The lost potential from pursuing one activity at the expense of another, given the alternatives
D) A government payment to a domestic firm

4. What is one example of something a copyright is used to protect?

A) The name of a brand
B) The content of a book
C) The shape of a new invention
D) The design of a logo

5. If the demand for a good is elastic, what is true?

A) The quantity demanded responds substantially to changes in the price.
B) Total revenue increases with a change in price in either direction.
C) The quantity demanded responds only slightly to changes in the price.
D) Price and total revenue move in the same direction.

Solutions: