Indicate how each of the following transactions affects US exports, imports, and net exports. Transaction Effect On... U. S. Exports U. S. Imports U. S. Net Exports An American art professor spends the summer touring museums in Europe. Students in Paris flock to see the latest movie from Hollywood. Your uncle buys a new Volvo. The student bookstore at Oxford University in England sells a copy of this textbook. A Canadian citizen shops at a store in northern Vermont to avoid Canadian sales taxes.

1. An American art professor spends the summer touring museums in Europe.

This action would lead to an increase in U. S. imports, as the professor would be buying foreign goods and services. Exports would remain the same, while net exports would decrease.

2. Students in Paris flock to see the latest movie from Hollywood.

In this case, U.S. net exports would increase. U.S. exports would rise because students are buying an American good, while imports would remain the same.

3. Your uncle buys a new Volvo.

U.S. net exports decline when your uncle buys a new Volvo. The U.S. imports would rise because the uncle is buying a foreign good (Volvo is made in Sweden). Exports remain unchanged.

4. The student bookstore at Oxford University in England sells a copy of this textbook.

U.S. net exports would increase. U.S. exports would also rise, while imports would remain unchanged.

5. A Canadian citizen shops at a store in northern Vermont to avoid Canadian sales taxes.

In this case, U.S. net exports would increase, as a foreigner is buying American goods. U.S. exports would rise too, while imports would remain unchanged.

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