Question 1

Which system has elements of a market economy and a command economy?

Options :

A : Fair economy

B : Market-command economy

C : Mixed economy

D : Compromise economy

Answer: C

Question 2

In a monopoly, which statements are likely true? (Choose TWO.)

Options :

A : One seller offers a unique good with no close substitutes

B : There are barriers to entry into the market

C : Firms are price takers

D : Marginal revenue equals price

E : Entry is free in the long run

Answer: A,B

Question 3

What are properties of a typical indifference curve? (Choose TWO.)

Options :

A : Higher indifference curves are preferred to lower ones.

B : Indifference curves can intersect.

C : Indifference curves do not cross.

D : Indifference curves slope upward.

Answer: A,C

Question 4

When confronting MNEs, the extender strategy centers on what?

Options :

A : Leveraging homegrown competencies abroad

B : Cooperating through joint ventures (JVs) with MNEs and sell-offs to MNEs

C : Leveraging local assets in areas in which MNEs are weak

D : Engaging in rapid learning and then expanding overseas

Answer: A

Question 5

One view of globalization claims that human civilization has always had some type of globalization.Which view is it?

Options :

A : The modern institutional view

B : The short-run economic view

C : The long-run historical view

D : The technological convergence view

Answer: C

Free Global-Economics-for-Managers Mock Exam – Practice Online Confidently