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Global-Economics-for-Managers Reliable Practice Materials & Global-Economics-for-Managers Exam CourseThis is the Global-Economics-for-Managers PDF format which contains real Global-Economics-for-Managers exam questions. You can print it and make a hard copy of this PDF file as well which helps you to prepare on the go. It comes in handy format and helps you prepare well with updated WGU Global Economics for Managers (C211, UZC2) exam questions. Moreover, this PDF has questions that are according to the present content of the test. This PDF format helps you to enhance your understanding of each topic which you need to self-evaluate to boost your WGU Global-Economics-for-Managers Exam Score. WGU Global Economics for Managers (C211, UZC2) Sample Questions (Q85-Q90):NEW QUESTION # 85
Which statements concerning property rights are true? (Choose TWO.)
A. Property rights are the legal rights regarding the use of an economic resource and for deriving income and benefits from it.
B. Protection of property rights is commonly recognized as a major factor in allowing developing countries to make gains toward economic progress.
C. Securing property rights results in industries that employ little fixed capital and avoid long-term investment.
D. Developing countries can achieve economic growth even without securing property rights.
E. Insecure property rights bode well in global competition where firms benefit from economies of scale and sustained R&D.
F. The primary purpose of establishing property rights is to provide economic benefit to society as a whole.
Answer: A,B
Explanation:
InGlobal Economics for Managers, property rights are fundamental to economic development and global competitiveness, making optionsC and Fthe correct answers.
Option F correctly definesproperty rightsas the legal rights governing the use of an economic resource and the ability to derive income and benefits from it. These rights specify ownership, control, transferability, and enforcement, providing clarity and predictability for economic actors.
Option C is also correct becauseprotection of property rights is widely recognized as a key driver of economic progress, especially in developing countries. Secure property rights encourage investment, innovation, and long-term planning by reducing the risk of expropriation or misuse. Firms are more willing to invest in capital-intensive production and research and development when their assets and returns are legally protected.
Option A is incorrect because secure property rights encourage-not discourage-long-term investment and capital-intensive industries. Option B is incorrect because insecure property rights undermine economies of scale and R&D by increasing uncertainty. Option D contradicts extensive evidence showing that weak property rights constrain sustainable growth. Option E is partially normative but not emphasized as a core analytical statement in managerial economics texts.
Thus, options C and F accurately reflect the role and definition of property rights in global economics.
NEW QUESTION # 86
When is it best for a firm to increase production?
A. When marginal revenue is greater than marginal cost
B. When marginal cost exceeds marginal revenue
C. When average cost is minimized
D. When total revenue is maximized
Answer: A
Explanation:
InGlobal Economics for Managers, the fundamental profit-maximization rule states that firms shouldincrease production when marginal revenue exceeds marginal cost, making option C correct.
Marginal revenue represents the additional revenue from selling one more unit, while marginal cost represents the additional cost of producing it. As long as MR > MC, producing additional units increases profit. Firms should stop expanding output when MR = MC.
Option A implies losses on additional units. Option B relates to cost efficiency, not profit maximization.
Option D ignores costs and therefore does not maximize profit.
Therefore, option C correctly identifies the condition under which firms should increase production.
NEW QUESTION # 87
An institution-based view of global business focuses on the specific relationship between which two entities?
A. Customers and institutions
B. Firms and institutions
C. Firms and governments
D. Customers and firms
Answer: B
Explanation:
InGlobal Economics for Managers, theinstitution-based view of global businessfocuses on the relationship betweenfirms and institutions, making option D the correct answer. This perspective argues that firm strategies and performance are shaped not only by industry conditions and firm resources but also by the institutional environment in which firms operate.
Institutions include bothformal rules(laws, regulations, property rights) andinformal constraints(norms, cultures, and ethical standards). Firms must align their strategies with these institutions to gain legitimacy, reduce uncertainty, and operate effectively. Governments are important institutional actors, but the institution- based view extends beyond governments to include social norms and cultural expectations.
Options A and B overlook the strategic role of institutions. Option C is too narrow, as it limits the relationship to firms and governments rather than the full institutional framework.
Thus, option D accurately reflects the institution-based view emphasized in global managerial economics.
NEW QUESTION # 88
Which statement about consumer surplus is true?
A. It measures the well-being of sellers
B. It represents government revenue
C. It measures total production efficiency
D. It is a good measure of economic well-being if policymakers want to satisfy buyers' preferences
Answer: D
Explanation:
InGlobal Economics for Managers,consumer surplusis a key measure ofbuyer welfare, making option B correct.
Consumer surplus equals the difference between what consumers are willing to pay and what they actually pay. Policymakers often use it to assess how market outcomes or policies affect consumers.
Options A and C describe producer surplus and tax revenue. Option D refers to total surplus, not consumer surplus alone.
Thus, option B is correct.
NEW QUESTION # 89
Which pillar of formal institutions represents the coercive power of governments?
A. Cognitive
B. Normative
C. Regulatory
D. Cultural
Answer: C
Explanation:
InGlobal Economics for Managers, theregulatory pillarof formal institutions represents thecoercive power of governments, making option C correct. Regulatory institutions consist of laws, rules, regulations, and enforcement mechanisms that shape economic behavior through rewards and punishments.
The regulatory pillar relies on the authority of the state to enforce compliance. Governments impose sanctions such as fines, imprisonment, or license revocation to ensure adherence to laws. For firms, this pillar defines what is legally permissible in areas such as labor practices, taxation, environmental standards, and competition policy.
The other institutional pillars-normative and cognitive-do not rely on coercion. Normative institutions are based on social norms and values, while cognitive institutions reflect shared beliefs and taken-for-granted assumptions.
Understanding the regulatory pillar is essential for managers because violations can result in severe legal and financial consequences. Thus, option C correctly identifies the pillar associated with government coercive power.
NEW QUESTION # 90
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