Exam (elaborations)
201740 Fall 2017 GOVT 350-D01 LUO Final Exam
Question 20 Selected Answer: When companies become more bureaucratic, top-heavy, slower to react to change, and generally inefficient as they grow larger, we call this diseconomies of scale. Question 21 Selected Answer: When countries specialize in the kinds of goods and services in which it has a comparative advantage, this means that they gain from doing what they do best relative to other nations. Question 22 Selected Answer: When costs of a production or consumption decision are borne by someone other than the decision-maker, economists call this a negative externality
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Institution
Liberty University
Course
GOVT 350 (GOVT350)
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Liberty University
- Course
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GOVT 350 (GOVT350)
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201740 fall 2017 govt 350 d01 luo final exam
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