WGU C211 Global Economics Exam (2025 /
2026) Questions and Verified Answers, 100%
Guarantee Pass with more than 300 questions
Suppose that the United States imposes a tariff on avocados imported from
Mexico. What impact will this have on the price paid for avocados by United
States citizens?
- correct answer -
The price will increase.
Which of the following is a consequence of a country imposing a tariff on
imported goods?
- correct answer -
The demand for foreign produced goods decreases.
Suppose that the United States imposes a tariff on salt. What impact might
,this tariff have on the price for domestic consumers?
- correct answer -
Consumers will pay a higher price.
Applying a tariff to coconuts will have the following effect:
- correct answer -
Increase the domestic price of coconuts.
What is the significant difference between an import quota and a tariff?
- correct answer -
A tariff raises revenue for the government and an import quota creates
surplus for those who obtain licenses to import.
Suppose that the price of a good increases (all else held constant). Which
of the following would happen along with the change in price?
- correct answer -
Consumer surplus would decrease.
Suppose that Bob goes to the market and is willing to pay $500 for a new
chainsaw. Bob is able to find the chainsaw for only $400. Which of the
following follows from Bob's circumstance?
,- correct answer -
His consumer surplus is $100.
Which of the following is NOT a restriction to trade?
- correct answer -
Free trade areas.
Which statement is true of consumer surplus?
- correct answer -
Consumer surplus represents value to buyers in excess of the price paid for
the product.
Which statement is true?
- correct answer -
Total surplus is the sum of consumer and producer surplus and is
graphically represented as the area between the supply and demand curves
up to the equilibrium quantity.
Suppose that Bob lives in the United States, but has been working in
Mexico for the last 5 years. Where is the value of Bob's production counted
during the last 5 years?
, - correct answer -
U.S. GNP and Mexico's GDP.
Which of the following statements describes gross domestic product (GDP)?
- correct answer -
GDP is the most used measure of a country's economic wellbeing.
Which of the following is an investment included in the gross domestic
product (GDP) measure?
- correct answer -
Spending on new residential construction.
Gross Domestic Product (GDP) measures which of the following?
- correct answer -
Market value of final goods and services produced within a country in a
given period of time.
Which item is NOT part of GDP?
- correct answer -
Purchasing a used hairdryer.
2026) Questions and Verified Answers, 100%
Guarantee Pass with more than 300 questions
Suppose that the United States imposes a tariff on avocados imported from
Mexico. What impact will this have on the price paid for avocados by United
States citizens?
- correct answer -
The price will increase.
Which of the following is a consequence of a country imposing a tariff on
imported goods?
- correct answer -
The demand for foreign produced goods decreases.
Suppose that the United States imposes a tariff on salt. What impact might
,this tariff have on the price for domestic consumers?
- correct answer -
Consumers will pay a higher price.
Applying a tariff to coconuts will have the following effect:
- correct answer -
Increase the domestic price of coconuts.
What is the significant difference between an import quota and a tariff?
- correct answer -
A tariff raises revenue for the government and an import quota creates
surplus for those who obtain licenses to import.
Suppose that the price of a good increases (all else held constant). Which
of the following would happen along with the change in price?
- correct answer -
Consumer surplus would decrease.
Suppose that Bob goes to the market and is willing to pay $500 for a new
chainsaw. Bob is able to find the chainsaw for only $400. Which of the
following follows from Bob's circumstance?
,- correct answer -
His consumer surplus is $100.
Which of the following is NOT a restriction to trade?
- correct answer -
Free trade areas.
Which statement is true of consumer surplus?
- correct answer -
Consumer surplus represents value to buyers in excess of the price paid for
the product.
Which statement is true?
- correct answer -
Total surplus is the sum of consumer and producer surplus and is
graphically represented as the area between the supply and demand curves
up to the equilibrium quantity.
Suppose that Bob lives in the United States, but has been working in
Mexico for the last 5 years. Where is the value of Bob's production counted
during the last 5 years?
, - correct answer -
U.S. GNP and Mexico's GDP.
Which of the following statements describes gross domestic product (GDP)?
- correct answer -
GDP is the most used measure of a country's economic wellbeing.
Which of the following is an investment included in the gross domestic
product (GDP) measure?
- correct answer -
Spending on new residential construction.
Gross Domestic Product (GDP) measures which of the following?
- correct answer -
Market value of final goods and services produced within a country in a
given period of time.
Which item is NOT part of GDP?
- correct answer -
Purchasing a used hairdryer.
