Assume that Canada is initially in long run equilibrium with price level of P1 and GDP of Y1. Discuss how each of the following events would affect net exports of Canada, and subsequently the aggregate demand, the price level and real GDP of Canada (with diagrams).

1. There is a sharp fall in Canada's exchange rate
2. A wave of pro-Canadian sentiment sweeps the U.S. and people in U.S. increase their consumption of Canadian goods
3. There is a recession in China, which is a large importer of Canadian agricultural goods
4. Due to a global health concern, there is a travel restriction of foreign travellers coming to Canada
5. The Canadian Central Bank uses an open market operation to decrease money supply by selling bonds