WGU C201 BUSINESS ACUMEN OBJECTIVE
ASSESSMENT EXAM 2024 ACTUAL CORRECT
QUESTIONS WITH HIGHLIGHTED ANSWERS GRADE A+
GUARANTEE PASS
The U.S. government acquires funds
through taxes, fees, and borrowing. -
....ANSWER >>>>What are the three primary
sources of government funds?
An expansionary monetary policy
increases the money supply in an effort to
cut the cost of borrowing. A restrictive
monetary policy reduces the money supply
to curb rising prices, overexpansion, and
concerns about overly rapid economic
growth. - ....ANSWER >>>>What is the
difference between an expansionary
monetary policy and a restrictive monetary
policy?
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Gross domestic product (GDP), general
level of prices, core inflation rate, the
Consumer Price Index, and the
unemployment rate are all measures used
to determine the health of an economy. -
....ANSWER >>>>What are some measures
that economists use to determine the
health of an economy?
The four stages are prosperity, recession,
depression, and recovery. *Prosperity* is
characterized by low unemployment and
strong consumer confidence. *Recession*
may include consumers postponing major
purchases, layoffs, and decreased
household savings. A *depression* occurs
when an economic slowdown continues in
a downward spiral over a long period of
time. In *recovery*, consumer spending
increases and business activity
accelerates. - ....ANSWER >>>>Describe the
four stages of the business cycle.
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A change in the cost or availability of any of
the inputs considered to be factors of
production can shift the entire supply
curve, either increasing or decreasing the
amount available at every price. -
....ANSWER >>>>How do factors of
production influence the overall supply of
goods and services?
A demand curve is a graph of the amount
of a product that buyers will purchase at
different prices. A supply curve shows the
relationship between different prices and
the quantities that sellers will offer for
sale, regardless of demand. - ....ANSWER
>>>>Explain demand and supply curves.
Microeconomics is the study of economic
behavior among individual consumers,
families, and businesses. Macroeconomics
is the study of a nation's overall economic
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issues and how an economic system
maintains and allocates its resources. -
....ANSWER >>>>What is the difference
between microeconomics and
macroeconomics?
Privatization is the conversion of
government-owned and operated
companies into privately held businesses. -
....ANSWER >>>>What is privatization?
The U.S. economy is based on the private
enterprise system. - ....ANSWER >>>>On
which economic system is the U.S.
economy based?
Pure competition is a market structure in
which large numbers of buyers and sellers
exchange homogeneous products, and no
single participant has a significant impact
on price. Monopolistic competition is a
market structure in which large numbers
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