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Exam IIA-CIA-Part3 All Questions

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Exam IIA-CIA-Part3 topic 1 question 29 discussion

Actual exam question from IIA's IIA-CIA-Part3
Question #: 29
Topic #: 1
[All IIA-CIA-Part3 Questions]

When applied to international economics, the theory of comparative advantage proposes that total worldwide output will be greatest when:

  • A. Each nation's total imports approximately equal its total exports.
  • B. Each good is produced by the nation that has the lowest opportunity cost for that good.
  • C. Goods that contribute to a nation's balance-of-payments deficit are no longer imported.
  • D. International trade is unrestricted and tariffs are not imposed.
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Suggested Answer: B 🗳️
by chung002 at Nov. 26, 2020, 7:36 a.m.

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Mariecia
2 months, 1 week ago
Cost is minimized, profit/output is maximized
upvoted 1 times
...
chung002
4 years, 1 month ago
tricky question . one qn is on international economics and the other qn is on international trade
upvoted 2 times
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