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WGU C211 OA Global Economics Exam all Questions & answers solved accurately with Complete Solution Graded A+ latest version
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WGU C211 OA Global Economics Exam all Questions & answers solved accurately with Complete Solution Graded A+ latest version

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  • July 6, 2024
  • 5
  • 2023/2024
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WGU C211 OA Global Economics Exam
(2023/2024) Verified Answers

Which political view of foreign direct investment (FDI) is most widely used by governments in the
current international business environment? - ANSWER-Protectionism

Which factors credit the degree of rivalry between a pair of competitors? 2 choices -
ANSWER-Market Commonality
Cost Structure

Which factors credit how local firms in emerging economics will respond to multinational
competitors? - ANSWER-Competitive assets and industry pressures to globalize

During which stage of the product life cycle do sales and profits gradually increase before
seeing more dramatic increases? - ANSWER-Growth

Which factor determines the foreign exchange rate of any currency? - ANSWER-Supply and
demand for the currency

Which risk must corporation minimize if it is to effectively manage short-term currency
fluctuations? - ANSWER-Transaction Risk

Which policy does a country use to determine the exchange rate of their currency in relationship
to another country's currency if they do not rely on market forces? - ANSWER-Fixed Rate Policy

Which term refers to trading currencies and currency derivatives in order to earn profits and help
make prices efficient? - ANSWER-Brokering

Which type of advantage is gained by a company based on where it operates? -
ANSWER-Location-Specific

Who gains from erecting significant entry barriers for other entrants? - ANSWER-First Movers

Which strategy for entering into a foreign market has the lowest degree of risk? -
ANSWER-Licensing

What is a non-equity mode involving some type of contractual agreement? -
ANSWER-Licensing

, After the Lehman Brothers collapse, the federal Reserve stood ready to lend financial
institutions funds. When the Federal reserve did this, it was acting in its role as a lender of last
resort. Which type of group has this role? - ANSWER-Non Governmental Organization

What is the comprehensive free-trade settlement among Canada, US, and Mexico, that address
issues of protecting workers rights, the environment and reducing tariffs and non-tariff trade
barriers? - ANSWER-NAFTA

What is one of the core propositions underpinning an institution-based view of global business?
- ANSWER-Managers and corporations make rational decisions within their formal and informal
framework

Which type of system allows businesses to be privately owned with a strong individualistic profit
orientation? - ANSWER-Market economy

Which legal system is based on a religious document and religious teachings? -
ANSWER-Theocratic Law

Which type of good has well-established property rights? - ANSWER-Private Goods

Which activity disregards basic property rights? - ANSWER-Students play loud music in the
open area between dorms

What is one type of economy that uses the market system? - ANSWER-Mixed Economy

Which kind of outcome was Adam Smith referring to when describing the invisible hand? -
ANSWER-Market Outcomes

What does the value of the marginal product of labor for a perfectly competitive, profit
maximizing firm equal? - ANSWER-Wage

What is the change in total cost equal to? - ANSWER-Marginal Cost multiplied by change in
quantity

Which condition must be satisfied for a competitive firm to shut down in a short run? -
ANSWER-Total variable costs are greater than total revenue

What will a competitive firm do in the short run if its average variable cost exceeds price? -
ANSWER-It will shut down

What is a characteristic of a monopoly demand curve? - ANSWER-It is the same as the market
demand curve

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