The United States would gain from the elimination of tariffs and ...

[fox]

The United States would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas.
 
  Indicate whether the statement is true or false

Question 2

Hurricane Katrina destroyed oil and natural gas refining capacity in the Gulf of Mexico which subsequently drove up natural gas, gasoline, and heating oil prices.
 
  Three years later, once the refining capacity was restored, these prices came back down. The restoration of refining capacity should
  A) move the economy up along a stationary short-run aggregate supply curve.
  B) move the economy down along a stationary short-run aggregate supply curve.
  C) shift the short-run aggregate supply curve to the left.
  D) shift the short-run aggregate supply curve to the right.

[Gabe]

Answer to Question 1

TRUE

Answer to Question 2

D