Which of the following conditions is true for a purely competitive firm in long-run equilibrium?

During the past decade, U.S. imports of business services have ________, U.S. exports of business services have ________, and U.S. net exports of business services have ________

A) increased; increased; increased B) increased; decreased; decreased C) decreased; increased; increased D) increased; increased; not changed E) decreased; decreased; increased

In the value added approach to calculating GDP, counting both the intermediate good and the final product would understate the contribution to GDP

Indicate whether the statement is true or false