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
Correct Answer:
Verified
Q108: An export is any good that is
Q109: A production possibilities curve is plotted for
Q110: The figure below shows production possibilities curves
Q111: The following figure represents various production possibilities
Q112: Which of the following represents a good
Q114: Which of the following statements is true
Q115: An economy produces apples and oranges.The dashed
Q116: The following figure represents various production possibilities
Q117: Which of the following organizations keeps track
Q118: Which of the following is likely to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents