Last Updated: Aug 10, 2026
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| Section | Weight | Objectives |
|---|---|---|
| Global Finance and Monetary Systems | 25% | - Foreign Exchange Markets
|
| International Trade Theory and Policy | 25% | - Trade Policies and Barriers
|
| Foreign Direct Investment and Global Strategy | 20% | - Global Business Strategy
|
| Foundations of Global Economics | 20% | - Views on Globalization
|
| Macroeconomics for Managers | 10% | - Economic Indicators and Policies
|
1. What is a key feature of an oligopoly?
A) There is tension between cooperation and self-interest.
B) Firms in an oligopoly are independent of one another, much like competitive firms.
C) The actions of any one seller in the market have little to no impact on the profits of all the other sellers.
D) There is little, if any, motivation for cooperation between firms.
2. Institutions exist to reduce uncertainty. An institutional framework is made up of two types of systems.
What are the systems? (Choose TWO.)
A) Informal
B) Personal
C) Cognitive
D) Formal
E) Firm
F) Normative
3. A shopper purchases a shirt for $17 but was willing to pay $25. What does this indicate?
A) The consumer surplus is $25.
B) The producer surplus is $17.
C) The consumer surplus is $8.
D) The producer surplus is $25.
4. What is one benefit of small-scale entries into foreign markets?
A) They demonstrate a strategic commitment to certain markets.
B) They present easy opportunities to build market share.
C) They give complete equity and operational control.
D) They focus on learning by doing while limiting the downside risk.
5. In a monopoly, which statements are likely true? (Choose TWO.)
A) There are barriers to entry into the market
B) Entry is free in the long run
C) Marginal revenue equals price
D) Firms are price takers
E) One seller offers a unique good with no close substitutes
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: A,D | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: A,E |
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