Economics: The Basics 1st Edition by Mike Mandel

Exercise 7

From 2003 to 2005, U.S. gasoline prices rose sharply, in part because of the supply disruptions from Hurricane Katrina. Over the same period the price of steel also rose sharply, in large part because of the worldwide building boom.
a) Did the gasoline price increase represent a demand shift or a movement along the demand curve?
b) Did the steel price increase represent a demand shift or a movement along the demand curve?