WGU Global Economics for Managers (C211, UZC2) - Global-Economics-for-Managers Exam Practice Test

A. Factors of production are government-owned or state-owned.

B. It is defined by a government taking the authoritative role in the economy.

C. It found a near ideal in China and the former Soviet Union during the heydays of communism.

D. The government takes a hands-off approach known as laissez-faire.

A. A $1,000 state license fee to operate a shop

B. Sales commissions

C. Cost of flour in bread production

D. Cost of parts in computer manufacturing

E. Monthly internet cost in a women's apparel business

A. Aggregate demand increases by less than the increase in government spending.

B. Aggregate demand decreases by less than the increase in government spending.

C. Aggregate demand increases by more than the increase in government spending.

D. Aggregate demand decreases by more than the increase in government spending.

A. The increase in cost that arises from producing an additional unit of output

B. The fixed cost of production

C. The opportunity cost of capital

D. The total cost divided by total output

A. A company makes preemptive investments.

B. A company is able to erect significant barriers for other entrants.

C. A company faces fewer market uncertainties.

D. A company gains advantage through proprietary technology.

A. Forward transactions

B. Rate locks

C. Currency hedging

D. Invoicing customers in the company's currency

A. The producer surplus is $17.

B. The consumer surplus is $25.

C. The consumer surplus is $8.

D. The producer surplus is $25.