WGU C211 Global Economics for Managers Exam Questions and Verified
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Correct 136
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1 of 136
Term
What would the Fed need to do with the reserve ratio in order to
decrease the money supply and aggregate demand in the economy?
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Suspend reserve requirements Decrease the reserve requirements;
temporarily. therefore lowering the reserve ratio.
Maintain the reserve requirements Increase the reserve
at the current level. requirements; therefore raising
the reserve ratio.
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2 of 136
,Definition
One who must accept the price as the market determines
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Reserve ratio Price changer
Marginal rate of substitution. Price taker
3 of 136
Term
Where do firms with market power determine the quantity of
product/service they will produce?
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After the sale, the dollars the Fed receives for the bonds are out of the hands of the
public. Thus, an open-market sale of bonds by the Fed decreases the money supply.
, A firm chooses a quantity of output such that marginal revenue equals
marginal cost. The firm chooses quantity so that price equals marginal cost.
Thus, the firm's marginal-cost curve is its supply curve.
After the purchase, these dollars are in the hands of the public. Thus, an open-
market purchase of bonds by the Fed increases the money supply.
A tariff causes a deadweight loss because a tariff is a type of tax. Like most taxes, it
distorts incentives and pushes the allocation of scarce resources away from the
optimum. (Oversupply and under demand)
4 of 136
Term
What other factors might influence the position of the demand curve?
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Price of the good itself, income,
price of related goods, Interest rates, inflation rates,
tastes, expectations, and exchange rates, and
number of buyers. unemployment levels.
Technological Production costs, supply chain
advancements, resource efficiency, government regulations,
availability, and labor and tax rates.
productivity.
, ?
5 of 136
Definition
The study of economy-wide phenomena, including inflation,
unemployment, and economic growth.
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Microeconomics Macroeconomics
Socioeconomics Demographics
6 of 136
Term
Why might a government be interested in imposing an import tariff on
a good? What benefit would the government derive primarily?
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Answers () 100% Guarantee Pass
Correct 136
100%
Incorrect 0
Your answers
1 of 136
Term
What would the Fed need to do with the reserve ratio in order to
decrease the money supply and aggregate demand in the economy?
Give this one a try later!
Suspend reserve requirements Decrease the reserve requirements;
temporarily. therefore lowering the reserve ratio.
Maintain the reserve requirements Increase the reserve
at the current level. requirements; therefore raising
the reserve ratio.
https://www.stuvia.com/user/geniusexpert
2 of 136
,Definition
One who must accept the price as the market determines
Give this one a try later!
Reserve ratio Price changer
Marginal rate of substitution. Price taker
3 of 136
Term
Where do firms with market power determine the quantity of
product/service they will produce?
Give this one a try later!
After the sale, the dollars the Fed receives for the bonds are out of the hands of the
public. Thus, an open-market sale of bonds by the Fed decreases the money supply.
, A firm chooses a quantity of output such that marginal revenue equals
marginal cost. The firm chooses quantity so that price equals marginal cost.
Thus, the firm's marginal-cost curve is its supply curve.
After the purchase, these dollars are in the hands of the public. Thus, an open-
market purchase of bonds by the Fed increases the money supply.
A tariff causes a deadweight loss because a tariff is a type of tax. Like most taxes, it
distorts incentives and pushes the allocation of scarce resources away from the
optimum. (Oversupply and under demand)
4 of 136
Term
What other factors might influence the position of the demand curve?
Give this one a try later!
Price of the good itself, income,
price of related goods, Interest rates, inflation rates,
tastes, expectations, and exchange rates, and
number of buyers. unemployment levels.
Technological Production costs, supply chain
advancements, resource efficiency, government regulations,
availability, and labor and tax rates.
productivity.
, ?
5 of 136
Definition
The study of economy-wide phenomena, including inflation,
unemployment, and economic growth.
Give this one a try later!
Microeconomics Macroeconomics
Socioeconomics Demographics
6 of 136
Term
Why might a government be interested in imposing an import tariff on
a good? What benefit would the government derive primarily?
Give this one a try later!
