Wgu c211 competency 5 - Study guides, Class notes & Summaries

WGU C211 - Competency 3 questions and answers |graded A+ Four properties of an indifference curve (1) Higher indifference curves are preferred to lower ones. People usually prefer to consume more goods rather than less. (2) Indifference curves are downward sloping. The slope of an indifference curve reflects the rate at which the consumer is willing to substitute one good for the other. (3) Indifference curves do not cross. (4) Indifference curves are bowed inward. The slope of an indiffere...

WGU C211 Questions with Correct Answers -Competency 5 Tariff. Tax on goods produced abroad and sold domestically(tax on imported goods). A method used to restrict international trade. Dead weight loss. The fall in total surplus that results from a market distortion, such as a tax (new equilibrium price that is settled for the transaction will be higher and therefore some burden of this will be passed on to the consumer) How are tariff's and dead weight loss related? Explain. A...

WGU C211 OA GLOBAL ECONOMICS FINAL EXAM (2022/2023) QUESTIONS $ANSWERS QUALIFIED PASS WITH AN( A+)SCORE Competency 1 1. Explain the New, Evolutionary, and Pendulum views of Globalization. How do these differ? - New: globalization is a new phenomenon beginning in the late 20th century, driven by recent technological innovations and a Western ideology based on exploiting and dominating the world. - Evolutionary: globalization is a part of human history. Traces of multi-national corpora...