{"id":129196,"date":"2023-12-01T13:04:23","date_gmt":"2023-12-01T13:04:23","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=129196"},"modified":"2023-12-01T13:04:24","modified_gmt":"2023-12-01T13:04:24","slug":"wgu-c211-pre-assessment-global-economics-for-managers-exam-prep-questions-and-verified-answers-100-correct-new-2023-2024-update","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/12\/01\/wgu-c211-pre-assessment-global-economics-for-managers-exam-prep-questions-and-verified-answers-100-correct-new-2023-2024-update\/","title":{"rendered":"WGU C211 Pre- Assessment Global Economics for Managers Exam Prep| Questions and Verified Answers| 100% Correct (New 2023\/ 2024 Update)"},"content":{"rendered":"\n<p>WGU C211 Pre- Assessment Global Economics for Managers Exam Prep| Questions and Verified Answers| 100% Correct (New 2023\/ 2024 Update)<\/p>\n\n\n\n<p>WGU C211 Pre- Assessment Global<br>Economics for Managers Exam Prep|<br>Questions and Verified Answers| 100%<br>Correct (New 2023\/ 2024 Update)<br>QUESTION<br>What is a characteristic of a market economy?<br>Answer:<br>It involves the government in a hands-off level approach known as laissez-faire.<br>QUESTION<br>What are examples of intellectual property?<br>Answer:<br>patents, copyrights, trademarks<br>QUESTION<br>In a monopoly which two statements are likely true<br>Answer:<br>one seller offers a unique good for which there are no close substitutes<br>there are barriers to entry into the market<br>QUESTION<br>What are two common types of barriers to entry that can cause a monop- oly?<br>Answer:<br>A single firm owning a key resource<br>economies of scale in the production process<\/p>\n\n\n\n<p>QUESTION<br>When is it best for a firm to increase production<br>Answer:<br>When a marginal revenue is greater than marginal costs<br>QUESTION<br>The marginal cost of producing a computer is $600 but the marginal revenue is $1000.what is the<br>best action for the respective firm<br>Answer:<br>Increase production<br>QUESTION<br>What is the definition of marginal cost<br>Answer:<br>The increase in cost that arises from producing an additional unit of output<br>QUESTION<br>What happens when the Fed increase money supply.<br>Answer:<br>the aggregate demand curve shifts to the right<br>QUESTION<br>In order to increase the money supply, what does the Fed do?<br>Answer:<br>buys bonds from the public<br>QUESTION<br>What is an example of goods that tend to have negative cross- price elasticities<\/p>\n\n\n\n<p>Answer:<br>complements<br>QUESTION<br>If the demand for a good is inelastic, what is true<br>Answer:<br>the quantity demanded responds only slightly to changes in the price<br>QUESTION<br>When demand decreases and supply stays the same, what happens to the equilibrium point of<br>price and quantity<br>Answer:<br>quantity decreases<br>price decreases<br>QUESTION<br>Which statement is true for a monopoly firm but not a competitive firm<br>Answer:<br>The marginal revenue is less than the price<br>QUESTION<br>What are three characteristics of monopolistic competition<br>Answer:<br>many sellers product differentiation<br>free entry and exit<br>QUESTION<br>What are key feature of an oligopoly<br>Powered by<a href=\" https:\/\/learnexams.com\/search\/study?query=\"> https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/12\/WGU-C211-PRE-ASSESSMENT-GLOBAL-ECONOMICS-FOR-MANAGERS-EXAM-PREP-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of WGU-C211-PRE-ASSESSMENT-GLOBAL-ECONOMICS-FOR-MANAGERS-EXAM-PREP-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE.\"><\/object><a id=\"wp-block-file--media-51c351af-148b-4de7-aac5-cc6aa0e7429c\" href=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/12\/WGU-C211-PRE-ASSESSMENT-GLOBAL-ECONOMICS-FOR-MANAGERS-EXAM-PREP-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE.pdf\" target=\"_blank\" rel=\"noopener\">WGU-C211-PRE-ASSESSMENT-GLOBAL-ECONOMICS-FOR-MANAGERS-EXAM-PREP-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE<\/a><a href=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/12\/WGU-C211-PRE-ASSESSMENT-GLOBAL-ECONOMICS-FOR-MANAGERS-EXAM-PREP-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE.pdf\" class=\"wp-block-file__button wp-element-button\" aria-describedby=\"wp-block-file--media-51c351af-148b-4de7-aac5-cc6aa0e7429c\" download target=\"_blank\" rel=\"noopener\">Download<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>WGU C211 Pre- Assessment Global Economics for Managers Exam Prep| Questions and Verified Answers| 100% Correct (New 2023\/ 2024 Update) WGU C211 Pre- Assessment GlobalEconomics for Managers Exam Prep|Questions and Verified Answers| 100%Correct (New 2023\/ 2024 Update)QUESTIONWhat is a characteristic of a market economy?Answer:It involves the government in a hands-off level approach known as laissez-faire.QUESTIONWhat [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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