Tutorial Chapter 31 - Tutorial Chapter 31 Question 1 a When...

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Tutorial Chapter 31 Question 1 a) When an American art professor spends the summer touring museums in Europe, he spends money buying foreign goods and services, so U.S. exports are unchanged, imports increase, and net exports decrease. b) When students in Paris flock to see the latest Arnold Schwarzenegger movie, foreigners are buying a U.S. good, so U.S. exports rise, imports are unchanged, and net exports increase. c) When your uncle buys a new Volvo, an American is buying a foreign good, so U.S. exports are unchanged, imports rise, and net exports decline. d) When the student bookstore at Oxford University sells a pair of Levi's 501 jeans, foreigners are buying U.S. goods, so U.S. exports increase, imports are unchanged, and net exports increase. e) When a Canadian shops in northern Vermont to avoid Canadian sales taxes, a foreigner is buying U.S. goods, so U.S. exports increase, imports are unchanged, and net exports increase. Question 2
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This note was uploaded on 01/14/2012 for the course ECON 101 taught by Professor Sam during the Spring '11 term at Bradford School of Business.

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Tutorial Chapter 31 - Tutorial Chapter 31 Question 1 a When...

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