For each of the following events, describe the effect of the event on prices for one of these goods: food, housing, or oil. Make your best guess as to what might happen in the case of each event, and explain your reasoning for why the event might or might not affect prices for a particular good

1. Temperatures rise due to global warming, and the growing season for crops lengthens.

2. The Environmental Protection Agency relaxes environmental rules on timber production.

3. International terrorists threaten to detonate a nuclear weapon.

4. The Federal Reserve chairman says that the central bank will raise interest rates.

5. A free-trade agreement between the United States and Mexico is enacted.

6. A tariff on exotic fruit is doubled.