Exam (elaborations)
WGU C211 Global Economics Final Exam Questions and Answers 100% Correct
- Course
- Institution
WGU C211 Global Economics Final Exam Questions and Answers 100% Correct
[Show more]
Content preview
WGU C211 Global Economics Final Exam Questions and Answers 100% Correct ability -to-pay principle ✔✔the idea that taxes should be levied on a person according to how well that person can shoulder the burden absolute advantage ✔✔The economic advantage one nation enjoys that is absolutely superior to other nations. absorptive capacity ✔✔The ability to recognize the value of new information, assimilate it, and apply it. accommodative strategy ✔✔A strategy characterized by some support from top managers, who may increasingly view CSR as a worthwhile endeavor. accounting profit ✔✔total revenue minus total explicit cost acquisition ✔✔A transfer of the control of operations and management from one firm (target) to another (acquirer), the former becoming a unit of the latter. acquisition premium ✔✔The difference between the acquisition price and the market value of target firms. adaptability ✔✔The ability to change supply chain configurations in response to longer -term changes in the environment and technology . Administrative policies ✔✔Bureaucratic rules that make it harder to import foreign goods. Adverse selection ✔✔the tendency for the mix of unobserved attributes to become undesirable from the standpoint of an uninformed party agency costs ✔✔The costs associated with principal -agent relationships. agency relationship ✔✔The relationship between principals (such as shareholders) and agents (such as professional managers). Agency theory ✔✔A theory that focuses on principal -agent relationships (or in short, agency relationships). Agent ✔✔A person (such as manager) to whom authority is delegated. agglomeration ✔✔Clustering of economic activities in certain locations. aggregate -supply curve ✔✔a curve that shows the quantity of goods and services that firms choose to produce and sell at each price level Agility ✔✔The ability to react quickly to unexpected shifts in supply and demand. Alignment ✔✔Alignment of interests of various players. Andean Community ✔✔A customs union in South America that was launched in 1969. antidumping duties ✔✔Tariffs levied on imports that have been "dumped" (selling below costs to "unfairly" drive domestic firms out of business). Antidumping law ✔✔Law that makes it illegal for an exporter to sell goods below cost abroad with the intent to raise prices after eliminating local rivals . antitrust law ✔✔Law that outlaws cartels (trusts). antitrust policy ✔✔Government policy designed to combat monopolies and cartels. APEC ✔✔The official title for regional economic integration involving 21 member economies around the Pacific. appreciation ✔✔an increase in the value of a currency as measured by the amount of foreign currency it can buy Arrow's impossibility theorem ✔✔a mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a valid set of social preferences Asia-Pacific Economic Cooperation (APEC) ✔✔The official title for regional economic integration involving 21 member economies around the Pacific . Association of Southeast Asian Nations (ASEAN) ✔✔The organization underpinning regional economic integration in Southeast Asia. attack ✔✔An initial set of actions to gain competitive advantage. Australia -New Zealand Closer Economic Relations Trade Agreement (ANZCERTA/CER) ✔✔A free trade agreement between Australia and New Zealand that was launched in 1983. Automatic stabilizers ✔✔changes in fiscal policy that stimulate aggregate demand when the economy goes into a recession without policymakers having to take any deliberate action Average fixed cost ✔✔fixed cost divided by the quantity of output average revenue ✔✔total revenue divided by the quantity sold average tax rate ✔✔total taxes paid divided by total income average total cost ✔✔total cost divided by the quantity of output average variable cost ✔✔variable cost divided by the quantity of output balance of payments ✔✔A country's international transaction statement, which includes merchandise trade, service trade, and capital movement. balance of trade ✔✔The aggregation of importing and exporting that leads to the country -level trade surplus or deficit. balance sheet approach ✔✔A compensation approach that balances the cost of living differences relative to parent country levels and adds a financial inducement to make the package attractive. balanced trade ✔✔a situation in which exports equal imports bandwagon effect ✔✔The effect of investors moving in the same direction at the same time, like a herd. bank capital ✔✔the resources a bank's owners have put into the institutionThe benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BestSolutions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $21.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81177 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now