5. 

34. When the labor demand curve is downward-sloping, an increase in the minimum wage is (A) beneficial to some workers and harmful to other workers (B) beneficial to all workers and harmful to some employers (C) harmful to all workers and employers (D) beneficial to all workers and employers (E) none of the above D S Price WS Quantity 35. Suppose the supply and demand for cotton in the United States are represented by curves S and D respectively in the figure above. Also assume that the world supply for cotton is so large that the United States would "be a "price taker" in the world market (as represented by WS). If the United States were to open its cotton market to free trade with the world, then (A) the domestic price of cotton would rise, and the United States would export cotton (B) the domestic price of cotton would fall, and the United States would export cotton (C) the domestic price of cotton would rise, and the United States would import cotton (D) the domestic price of cotton would fall, and the United States would import cotton (E) there would be no change in the price of cotton in the United States"