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Iowa Produces a Small Amount of Wool but Buys a Large

Question 188

Multiple Choice

Iowa produces a small amount of wool but buys a large quantity of wool from Montana for use in its (Iowa's) textile industry.Iowa is ________.


A) a net importer of wool
B) a net exporter of wool
C) an exporter of wool
D) likely has a comparative advantage in producing wool compared to Montana

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