Study guides, Class notes & Summaries

WGU C211 - Global Economics for Managers - PA Review Exam (100% Correct Solutions).

WGU C211 Objective Assessment Global Economics for Managers Exam | Real Questions and Verified Answers| 100% Correct (New 2023/ 2024 Update) Graded A QUESTION Which kind of outcome was Adam Smith referring to when describing the invisible hand? Answer: Market outcomes QUESTION What does the value of the marginal product of labor for a perfectly competitive, profitmaximizing firm equal? Answer: Rate QUESTION What is the change in total cos...

WGU C211 - Competency 5 Exam Questions With Fully Verified Answers Tariff. - answerTax on goods produced abroad and sold domestically(tax on imported goods). A method used to restrict international trade. Dead weight loss. - answerThe 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 r...

WGU C211 Key Terms and Definitions Base of the Pyramid - answerEconomies where people make less that $2,000 per capita per year BRIC - answerBrazil, Russia, India, China Emerging Economies - answerA term that has gradually replaced the term "developing countries" since the 1990s Emerging Markets - answerA term that is often used interchangeably with "emerging economies" Expatriate manager - answerA manager who works abroad Foreign Direct Investment - answerInvestment in, controlling...

WGU C211 Economics Pre-Assessment 2024 Exam Questions With Fully Verified Answers What are the weaknesses of the theory of mercantilism? Choose two. - answerThe theory leads to inefficient allocation of resources. Application of the theory reduces the wealth of the nation in the long run. What is the bandwagon effect? - answerThe movement of investors in the same direction at the same time. A country has seen a decrease in inflation. What is the effect on the country's currency exchange...

C211 WGU PA and 1st Retake Exam Questions With 100% Verified Answers The resource-based view of global business differs from the institution-based view of global business in that the resource-based view _____. a. advocates adopting a single method for achieving globalization b. supports the ideology of total globalization c. postulates the ideology of localization d. focuses on the internal strengths on the firm - answerfocuses on the internal strengths on the firm The _____ of glob...

WGU C211 - Competency 2 Exam Questions With 100% Verified Answers Regulatory pillar - answerThe coercive power of governments (laws, regs, rules) Normative pillar - answerValues, beliefs, and actions of other relevant players (norms, cultures, ethics) Cognitive pillar - answerThe internalized, taken-for-granted values and beliefs that guide behavior. (beliefs between right/wrong) Formal institution - answerOne that include laws, regulations and rules Informal institution - answerOne that...

WGU C211 Global Economics Exam Questions With 100% Verified Answers Suppose that the United States imposes a tariff on avocados imported from Mexico. What impact will this have on the price paid for avocados by United States citizens? - answerThe price will increase. Which of the following is a consequence of a country imposing a tariff on imported goods? - answerThe demand for foreign produced goods decreases. Suppose that the United States imposes a tariff on salt. What impact might...

C211 - Global Economics for Managers Final Exam Questions With 100% Verified Answers Base of the pyramid (BOP) - answerEconomies where people make less than $2,000 per capita per year. BRICA - answerBrazil, Russia, India, and China. Emerging economies - answerterm that has gradually replaced the term "developing countries" since the 1990s. Emerging markets - answerA term that is often used interchangeably with "emerging economies." Expatriate manager - answerA manager who works abr...

WGU C211 Prep for OA Exam Questions With Fully Verified Answers Globalization can be viewed as - answera new force sweeping through the world in recent times. a Option pendulum that swings from one extreme to another from time to time. a long-run historical evolution since the dawn of human history. What is the definition of an institution-based view of global business? - answerAn institution-based view suggests that the success and failure of firms are enabled and constrained by institu...

C211 WGU Study Guide Exam Questions With Fully Verified Answers Globalization - answerIs the close integration of countries and peoples of the world which has been brought about by the enormous reduction of the cost of transportation and communication, and the breaking down of artificial barriers to the flows of goods, services, capital, knowledge, and (to a lesser extent) people across borders. New view of Globalization - answerA new force sweeping through the world in recent times that ...