Using the AS-AD model, show how the following events will impact real GDP and price level in Canada in the short run. Mention how net exports will be impacted (with 1-2 lines on why it is getting impacted).

1)USA is a big purchaser of Canadian goods and there is a recession in the U.S. economy

2)The Canadian exchange rate goes down (i.e. CAD dollar becomes weaker)

3)Due to Toronto Raptors winning the NBA, there is a rise in popularity of Canadian goods in foreign countries

4)The Japanese government increases trade restrictions on Canadian goods