The more elastic the demand facing a firm,

A minimum wage set above the equilibrium wage

A) decreases the deadweight loss in the market. B) decreases the workers' surplus because workers must spend resources looking for jobs. C) increases the firm's surplus. D) increases the market's efficiency. E) has no effect on the market.

While the world was fairly integrated at the turn of the last century, most trade was in agricultural and raw materials, whereas today manufactured consumer and producer goods play a much greater role in determining exports and imports

Indicate whether the statement is true or false