Indicate how each of the following transactions affects U. S. 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. Your parents go on a trip to Japan in late March for the Cherry Blossom season. Your uncle buys a new Volvo. The student bookstore at Yale University sells books published by Cambridge University Press. Your parents buy a bottle of French wine from a local wine store.

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

This has the effect of increasing US Imports while keep US Exports at same level.

Imports will outweigh Exports so Net Exports will decrease.

b. Your parents go on a trip to Japan in late March for the Cherry Blossom season.

This increases US imports as your parents are spending outside the country.

Exports remain the same.

Net Exports will decrease because Imports are larger than Exports.

c. Your uncle buys a new Volvo.

Volvo is a Swedish company so your uncle buying a Volvo Increases US Imports.

Exports will remain the same.

Result is Net Exports will once again Decrease.

d. The student bookstore at Yale University sells books published by Cambridge University Press.

Cambridge University Press is a British entity so selling their textbooks in the US increase US Imports.

Exports once again remain the same.

Net Exports decrease.

e. Your parents buy a bottle of French wine from a local wine store.

The French wine is an Import so Imports to the US increase.

The Exports remain the same.

Net Exports decrease.

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