WGU C211 Global Economics for Managers
Comprehensive Resource To Help You Ace 2026-2027
Includes Frequently Tested Questions With
ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!!
Current Update!!
1. How can globalization be viewed?
A. A new force sweeping through the world in recent times
B. A long-run historical evolution since the dawn of human history
C. A pendulum that swings between extremes over time
D. All of the above
Answer: D
2. What are the three views of globalization?
A. Economic, political, and social
B. Recent force, long-running evolution, and pendulum
C. Developed, developing, and emerging
D. None of the above
Answer: B
3. What is an import quota?
A. A tax on imported goods
B. A restriction on the quantity of imports allowed into a country
C. A subsidy given to exporters
D. A trade agreement
Answer: B
,4. Which of the following are examples of non-tariff trade barriers (NTBs)?
A. Import quotas
B. Local content requirements
C. Subsidies
D. All of the above
Answer: D
5. What is free trade?
A. Government-controlled trade system
B. Trade without any imports
C. Market forces determining trade with minimal government intervention
D. Trade limited to domestic markets
Answer: C
6. Which of the following is a political argument against free trade?
A. Consumer protection
B. National security
C. Environmental and social responsibility
D. All of the above
Answer: D
7. The U.S. banning imports of jade from Myanmar is an example of:
A. Tariff
B. Subsidy
C. Trade embargo
D. Import quota
Answer: C
,8. What are the primary political views on foreign direct investment (FDI)?
A. Protectionism and liberalism
B. Free market and pragmatic nationalism
C. Socialism and capitalism
D. None of the above
Answer: B
9. Firms can increase success in FDI by:
A. Assessing if FDI is justified
B. Understanding political realities
C. Leveraging OLI advantages
D. All of the above
Answer: D
10. How do firms create value when engaging rivals?
A. Secure patents on key products
B. Launch products in multiple markets
C. Hold dominant positions in key markets
D. All of the above
Answer: D
11. The theory of comparative advantage was developed by:
A. Adam Smith
B. David Ricardo
C. Karl Marx
D. John Keynes
Answer: B
, 12. Which are modern trade theories?
A. Product life cycle theory
B. National competitive advantage theory
C. Strategic trade theory
D. All of the above
Answer: D
13. Mercantilism views international trade as:
A. Win-win
B. Zero-sum game
C. Free exchange
D. Balanced system
Answer: B
14. According to absolute advantage theory, under free trade:
A. Countries avoid specialization
B. Each nation specializes where it has absolute advantage
C. Trade is restricted
D. Government controls production
Answer: B
15. Comparative advantage refers to:
A. Producing more goods
B. Producing at lower opportunity cost
C. Government subsidies
D. Trade restrictions
Answer: B
Comprehensive Resource To Help You Ace 2026-2027
Includes Frequently Tested Questions With
ELABORATED 100% Correct COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!!
Current Update!!
1. How can globalization be viewed?
A. A new force sweeping through the world in recent times
B. A long-run historical evolution since the dawn of human history
C. A pendulum that swings between extremes over time
D. All of the above
Answer: D
2. What are the three views of globalization?
A. Economic, political, and social
B. Recent force, long-running evolution, and pendulum
C. Developed, developing, and emerging
D. None of the above
Answer: B
3. What is an import quota?
A. A tax on imported goods
B. A restriction on the quantity of imports allowed into a country
C. A subsidy given to exporters
D. A trade agreement
Answer: B
,4. Which of the following are examples of non-tariff trade barriers (NTBs)?
A. Import quotas
B. Local content requirements
C. Subsidies
D. All of the above
Answer: D
5. What is free trade?
A. Government-controlled trade system
B. Trade without any imports
C. Market forces determining trade with minimal government intervention
D. Trade limited to domestic markets
Answer: C
6. Which of the following is a political argument against free trade?
A. Consumer protection
B. National security
C. Environmental and social responsibility
D. All of the above
Answer: D
7. The U.S. banning imports of jade from Myanmar is an example of:
A. Tariff
B. Subsidy
C. Trade embargo
D. Import quota
Answer: C
,8. What are the primary political views on foreign direct investment (FDI)?
A. Protectionism and liberalism
B. Free market and pragmatic nationalism
C. Socialism and capitalism
D. None of the above
Answer: B
9. Firms can increase success in FDI by:
A. Assessing if FDI is justified
B. Understanding political realities
C. Leveraging OLI advantages
D. All of the above
Answer: D
10. How do firms create value when engaging rivals?
A. Secure patents on key products
B. Launch products in multiple markets
C. Hold dominant positions in key markets
D. All of the above
Answer: D
11. The theory of comparative advantage was developed by:
A. Adam Smith
B. David Ricardo
C. Karl Marx
D. John Keynes
Answer: B
, 12. Which are modern trade theories?
A. Product life cycle theory
B. National competitive advantage theory
C. Strategic trade theory
D. All of the above
Answer: D
13. Mercantilism views international trade as:
A. Win-win
B. Zero-sum game
C. Free exchange
D. Balanced system
Answer: B
14. According to absolute advantage theory, under free trade:
A. Countries avoid specialization
B. Each nation specializes where it has absolute advantage
C. Trade is restricted
D. Government controls production
Answer: B
15. Comparative advantage refers to:
A. Producing more goods
B. Producing at lower opportunity cost
C. Government subsidies
D. Trade restrictions
Answer: B
