When the government budget deficit increases, national saving decreases

If the cost of labor increases, the isocost line will

A) stay the same. B) shift outward in parallel fashion. C) rotate inward around the point where only capital is employed in production. D) shift inward in parallel fashion.

In the long run, if we observe firms in a competitive market earning economic profits, we know that this market is in long-run equilibrium

a. True b. False Indicate whether the statement is true or false