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

1. Which goods have a positive cross-price elasticity?

A) Shortage goods
B) Normal goods
C) Complements
D) Substitutes

2. What is one of the two major exchange rate policies?

A) Floating rate
B) Matched rate
C) Discount rate
D) Fiscal rate

3. What are examples of variable costs? Choose two answers.

A) A 5% tax charged by the government on variable inputs
B) The rent paid by a magazine publisher for its creative team
C) A $1,000 license fee charged by the state government to operate a shop
D) The cost of the parts used in individual devices made by a computer manufacturer
E) The monthly internet cost in a business that produces women's apparel
F) The CEO's salary for a major manufacturing firm

4. Which characteristic is attributed to totalitarianism?

A) It gives citizens the right to elect representatives to govern on their behalf.
B) It contains some political risk, but risk that is qualitatively lower than in other political systems.
C) It prizes an individual ' s right to freedom of expression and organization.
D) It delegates absolute political control over the population to one person or party.

5. Which statement is a description of theocratic law?

A) It is a legal system that uses comprehensive statutes and codes as a primary means to form legal judgments.
B) It is a legal system that is the oldest, most influential, and most widely distributed in the world.
C) It is a legal system that is shaped by precedents and traditions from previous judicial decisions.
D) It is a legal system based on religious teachings and dogma.

Solutions: