1. How would the following transactions affect U.S.

exports, imports, and net exports?

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

b. Students in Paris flock to see the latest Arnold Schwarzenegger movie.

c. Your uncle buys a new Volvo.

d. The student bookstore at Oxford University sells a pair of Levi’s 501 jeans.

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