1. An increase in the minimum wage will tend to cause which of the following?

A. an upward shift in the PS curve

B. a downward shift in the PS curve

C. an upward shift in the WS curve

D. a downward shift in the WS curve

E. none of the above

2. Suppose that increased international trade makes product markets more competitive in the U.S. Given this information, we would expect to observe which of the following?

A. an upward shift in the PS curve

B. a downward shift in the PS curve

C. an upward shift in the WS curve

D. a downward shift in the WS curve

E. none of the above