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WGU C211 OBJECTIVE ASSESSMENT 2026/2027 |
GLOBAL ECONOMICS FOR MANAGERS | EXPERT
VERIFIED | 125 VERIFIED Q&A | DETAILED
RATIONALES | PASS GUARANTEED – A+ GRADED
Question 1
A nurse manager is reviewing the concept of microeconomics. Which of the following best describes
microeconomics?
A. The study of the economy as a whole
B. The study of individual consumers and firms
C. The study of government policy
D. The study of international trade only
Correct Answer: B
Rationale: Microeconomics studies individual consumers, firms, and markets.
Question 2
A nurse manager is reviewing the concept of macroeconomics. Which of the following best describes
macroeconomics?
A. The study of individual consumers
B. The study of the economy as a whole
C. The study of individual firms
D. The study of a single market
Correct Answer: B
Rationale: Macroeconomics studies the economy as a whole (GDP, inflation, unemployment).
Question 3
A nurse manager is reviewing the concept of supply and demand. Which of the following occurs
when demand increases?
A. Price decreases
B. Price increases
C. Price stays the same
D. Quantity decreases
Correct Answer: B
Rationale: Increased demand leads to higher prices (assuming supply is constant).
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Question 4
A nurse manager is reviewing the concept of supply and demand. Which of the following occurs
when supply increases?
A. Price increases
B. Price decreases
C. Price stays the same
D. Quantity decreases
Correct Answer: B
Rationale: Increased supply leads to lower prices (assuming demand is constant).
Question 5
A nurse manager is reviewing the concept of elasticity. Which of the following best describes price
elasticity of demand?
A. Responsiveness of quantity demanded to price changes
B. Responsiveness of supply to demand
C. The total revenue
D. The market equilibrium
Correct Answer: A
Rationale: Elasticity measures responsiveness of quantity demanded to price changes.
Question 6
A nurse manager is reviewing the concept of opportunity cost. Which of the following best describes
it?
A. The monetary cost of a decision
B. The value of the next best alternative
C. The total cost
D. The sunk cost
Correct Answer: B
Rationale: Opportunity cost is the value of the next best alternative foregone.
Question 7
A nurse manager is reviewing the concept of sunk cost. Which of the following best describes it?
A. A cost that can be recovered
B. A cost that has already been incurred and cannot be recovered
C. A future cost
D. A variable cost
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Correct Answer: B
Rationale: Sunk costs are already incurred and cannot be recovered.
Question 8
A nurse manager is reviewing the concept of fixed costs. Which of the following is an example?
A. Supplies that vary with volume
B. Rent
C. Overtime pay
D. Medication costs
Correct Answer: B
Rationale: Fixed costs (like rent) do not vary with output.
Question 9
A nurse manager is reviewing the concept of variable costs. Which of the following is an example?
A. Rent
B. Medication costs
C. Insurance
D. Salaries (fixed)
Correct Answer: B
Rationale: Variable costs vary with output (like medication costs).
Question 10
A nurse manager is reviewing the concept of economies of scale. Which of the following best
describes it?
A. Costs increase as output increases
B. Costs decrease as output increases
C. Costs stay the same
D. No relationship
Correct Answer: B
Rationale: Economies of scale mean lower average costs with higher output.
Question 11
A nurse manager is reviewing the concept of diseconomies of scale. Which of the following best
describes it?
, 4
A. Costs decrease as output increases
B. Costs increase as output increases
C. Costs stay the same
D. No relationship
Correct Answer: B
Rationale: Diseconomies of scale mean higher average costs with higher output.
Question 12
A nurse manager is reviewing the concept of GDP. Which of the following best describes GDP?
A. The total value of goods and services produced in a country
B. The total population
C. The inflation rate
D. The unemployment rate
Correct Answer: A
Rationale: GDP is the total value of goods and services produced.
Question 13
A nurse manager is reviewing the concept of inflation. Which of the following best describes it?
A. A decrease in the general price level
B. An increase in the general price level
C. No change in prices
D. A decrease in money supply
Correct Answer: B
Rationale: Inflation is a sustained increase in the general price level.
Question 14
A nurse manager is reviewing the concept of deflation. Which of the following best describes it?
A. An increase in the general price level
B. A decrease in the general price level
C. No change in prices
D. An increase in money supply
Correct Answer: B
Rationale: Deflation is a sustained decrease in the general price level.
Question 15
WGU C211 OBJECTIVE ASSESSMENT 2026/2027 |
GLOBAL ECONOMICS FOR MANAGERS | EXPERT
VERIFIED | 125 VERIFIED Q&A | DETAILED
RATIONALES | PASS GUARANTEED – A+ GRADED
Question 1
A nurse manager is reviewing the concept of microeconomics. Which of the following best describes
microeconomics?
A. The study of the economy as a whole
B. The study of individual consumers and firms
C. The study of government policy
D. The study of international trade only
Correct Answer: B
Rationale: Microeconomics studies individual consumers, firms, and markets.
Question 2
A nurse manager is reviewing the concept of macroeconomics. Which of the following best describes
macroeconomics?
A. The study of individual consumers
B. The study of the economy as a whole
C. The study of individual firms
D. The study of a single market
Correct Answer: B
Rationale: Macroeconomics studies the economy as a whole (GDP, inflation, unemployment).
Question 3
A nurse manager is reviewing the concept of supply and demand. Which of the following occurs
when demand increases?
A. Price decreases
B. Price increases
C. Price stays the same
D. Quantity decreases
Correct Answer: B
Rationale: Increased demand leads to higher prices (assuming supply is constant).
,2
Question 4
A nurse manager is reviewing the concept of supply and demand. Which of the following occurs
when supply increases?
A. Price increases
B. Price decreases
C. Price stays the same
D. Quantity decreases
Correct Answer: B
Rationale: Increased supply leads to lower prices (assuming demand is constant).
Question 5
A nurse manager is reviewing the concept of elasticity. Which of the following best describes price
elasticity of demand?
A. Responsiveness of quantity demanded to price changes
B. Responsiveness of supply to demand
C. The total revenue
D. The market equilibrium
Correct Answer: A
Rationale: Elasticity measures responsiveness of quantity demanded to price changes.
Question 6
A nurse manager is reviewing the concept of opportunity cost. Which of the following best describes
it?
A. The monetary cost of a decision
B. The value of the next best alternative
C. The total cost
D. The sunk cost
Correct Answer: B
Rationale: Opportunity cost is the value of the next best alternative foregone.
Question 7
A nurse manager is reviewing the concept of sunk cost. Which of the following best describes it?
A. A cost that can be recovered
B. A cost that has already been incurred and cannot be recovered
C. A future cost
D. A variable cost
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Correct Answer: B
Rationale: Sunk costs are already incurred and cannot be recovered.
Question 8
A nurse manager is reviewing the concept of fixed costs. Which of the following is an example?
A. Supplies that vary with volume
B. Rent
C. Overtime pay
D. Medication costs
Correct Answer: B
Rationale: Fixed costs (like rent) do not vary with output.
Question 9
A nurse manager is reviewing the concept of variable costs. Which of the following is an example?
A. Rent
B. Medication costs
C. Insurance
D. Salaries (fixed)
Correct Answer: B
Rationale: Variable costs vary with output (like medication costs).
Question 10
A nurse manager is reviewing the concept of economies of scale. Which of the following best
describes it?
A. Costs increase as output increases
B. Costs decrease as output increases
C. Costs stay the same
D. No relationship
Correct Answer: B
Rationale: Economies of scale mean lower average costs with higher output.
Question 11
A nurse manager is reviewing the concept of diseconomies of scale. Which of the following best
describes it?
, 4
A. Costs decrease as output increases
B. Costs increase as output increases
C. Costs stay the same
D. No relationship
Correct Answer: B
Rationale: Diseconomies of scale mean higher average costs with higher output.
Question 12
A nurse manager is reviewing the concept of GDP. Which of the following best describes GDP?
A. The total value of goods and services produced in a country
B. The total population
C. The inflation rate
D. The unemployment rate
Correct Answer: A
Rationale: GDP is the total value of goods and services produced.
Question 13
A nurse manager is reviewing the concept of inflation. Which of the following best describes it?
A. A decrease in the general price level
B. An increase in the general price level
C. No change in prices
D. A decrease in money supply
Correct Answer: B
Rationale: Inflation is a sustained increase in the general price level.
Question 14
A nurse manager is reviewing the concept of deflation. Which of the following best describes it?
A. An increase in the general price level
B. A decrease in the general price level
C. No change in prices
D. An increase in money supply
Correct Answer: B
Rationale: Deflation is a sustained decrease in the general price level.
Question 15
