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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Q Describe how the following transactions would affect U.S. exports, imports, and net exports: a. Students in Prague flock to see the latest movie from Hollywood. b. Mrs. Jones in Philadelphia buys a new Volvo. c. The student bookstore at Oxford University in England sells a copy of a U.S. printed/authored textbook d. A Canadian citizen shops at a store in northern Vermont to avoid Canadian sales taxes. e. An American art professor spends the summer touring museums in Europe.

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. Hollywood is one of the greatest forces of the U.S. economy. According to 2011 data, Hollywood contributes 3.2% of the U.S. GDP. Now, as the students of Prague went for the Hollywood movie, it positively contributes to the U.S. economy. So, it actually the exports for the U.S. and if the imports remain the same, then it would increase the net exports. In this context, it should be mentioned here that Hollywood is one of the biggest U.S. exports ("Hollywood has blockbuster impact on US economy that tourism fails to match", 2013).