Hurricane Katrina destroyed oil and natural gas refining capacity in the Gulf of Mexico. This subsequently drove up natural gas, gasoline, and heating oil prices. As a result, this should
A) shift the short-run aggregate supply curve to the right.
B) shift the short-run aggregate supply curve to the left.
C) move the economy down along a stationary short-run aggregate supply curve.
D) move the economy up along a stationary short-run aggregate supply curve.
Question 2
An increase in the government budget surplus will shift the ________ curve for loanable funds to the ________ and the equilibrium real interest rate will ________.
A) demand; right; rise B) demand; left; fall C) supply; left; rise D) supply; right; fall
The 2012 U.S. presidential campaign rang with “get tough” cries to end Iran’s nuclear capacity and c
Hurricane Destruction
Dissolved oxygen at The Gulf of Mexico’s “Dead Zone”
Gulf Stream/North Atlantic Current
Natural gas is a cleaner fuel than coal