Some economists argue that the federal government should normally run a deficit at potential GDP, with the borrowed funds applied to

A minimum wage set above the equilibrium wage rate creates

A) efficiency because it increases most workers' wages. B) efficiency because few workers lose their jobs. C) efficiency because workers can earn a living wage. D) inefficiency and a deadweight loss. E) inefficiency because it creates excessive employment.

Jennifer Borts moves her office from the premises she rents at a local mall to her home. As a result of this move

A) Jennifer's opportunity costs fall. B) Jennifer's explicit costs fall and her implicit costs rise. C) Jennifer's implicit costs fall. D) Jennifer's total costs fall.