WGU D089 ECON 2000 Principles of Economics Comprehensive FA Review (Qns & Ans) 2026

WGU D089 ECON 2000 Principles of Economics Comprehensive FA Review (Qns & Ans) 2026

1. Which of the following best describes the concept of
opportunity cost?
 - A) The cost of producing one more unit of a good
 - B) The value of the next best alternative foregone
 - C) The total cost of all resources used in production
 - D) The cost of labor and capital combined
 - ANS: B) The value of the next best alternative foregone
 - Rationale: Opportunity cost represents the benefits an
individual, investor, or business misses out on when choosing one
alternative over another.
2. What is the primary goal of monetary policy?
 - A) To control inflation
 - B) To increase government spending
 - C) To reduce unemployment
 - D) To balance the budget
 - ANS: A) To control inflation
 - Rationale: Monetary policy primarily aims to control
inflation and stabilize the currency by managing interest rates and
the money supply.
3. Which of the following is a characteristic of a perfectly
competitive market?
 - A) Few sellers
 - B) Differentiated products
 - C) Barriers to entry
 - D) Many buyers and sellers
 - ANS: D) Many buyers and sellers