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

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

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

2. What is a tariff levied on imports that are selling below cost in order to unfairly drive domestic firms out of business?

A) Antidumping duty
B) Opportunity cost
C) Factor endowment
D) Deadweight cost

3. Which characteristics are attributed to a democracy? (Choose THREE.)

A) It prohibits private ownership.
B) It concentrates power in a single ruling party.
C) It contains political risk that is lower than in other political systems.
D) It extends the right to organize economically to domestic and foreign firms.
E) It prizes freedom of expression and organization.

4. Who are the primary and largest participants in the foreign exchange market?

A) Large international banks
B) Multinational manufacturing firms
C) Individual currency traders
D) Central banks

5. What is the Nash equilibrium?

A) A group of firms illegally acting in unison to improve profits or dominate a market
B) A particular situation between two entities that illustrates why cooperation is difficult to maintain even when it is mutually beneficial
C) An agreement among firms in a market over production and price
D) 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

Solutions: