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Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985

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BuyFindarrow_forward

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
ISBN: 9781337091985
Textbook Problem

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 movie from Hollywood.

c. Your uncle buys a new Volvo.

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

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

Subpart (a):

To determine

Changes in volume of export, import, and net export.

Explanation

The American art professor spends the summer touring museums in Europe, which will lead to increase in the import because he buys some foreign goods and services from the museum...

Subpart (b):

To determine

Changes in volume of export, import, and net export.

Subpart (c):

To determine

Changes in volume of export, import, and net export.

Subpart (d):

To determine

Changes in volume of export, import, and net export.

Subpart (e):

To determine

Changes in volume of export, import, and net export.

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