The ratio of trade to GDP for the U.S. has roughly tripled since the 1960s

A minimum wage set above the equilibrium wage rate has no effect

Indicate whether the statement is true or false

The equilibrium effects of a temporary increase in total factor productivity include

A) an increase in the real wage and an increase in the real interest rate. B) an increase in the real wage and a decrease in the real interest rate. C) a decrease in the real wage and an increase in the real interest rate. D) a decrease in the real wage and a decrease in the real interest rate.