Online Access Free Global-Economics-for-Managers Practice Test

What is one characteristic of a market surplus?

• A.Price is below equilibrium
• B.There is upward pressure on price
• C.Quantity demanded exceeds quantity supplied
• D.Quantity supplied exceeds quantity demanded

The benefit attributed to firms that enter a market before other firms in the same market segment is best described by which term?

• A.Economies of scope
• B.Late-mover advantage
• C.Competitive neutrality
• D.First-mover advantage

What is an example of a transaction accounted for in the net exports component of GDP?

• A.A person buys food.
• B.A member of Congress is paid a salary.
• C.A couple buys a new house.
• D.A person buys a car from a different country.

What does the term resource mobility describe?

• A.The assumption that a resource removed from one industry can be moved to another
• B.An economic condition in which a nation exports more than it imports
• C.The idea that market forces should determine how much to trade with little or no government intervention
• D.The idea that governments should actively defend domestic industries from imports and vigorously promote the export of resources

What is one of the two major exchange rate policies?

• A.Discount rate
• B.Floating rate
• C.Matched rate
• D.Fiscal rate