The measure of production that values output using base-year prices is called

When supply increases and the supply curve shifts to the right, equilibrium price and equilibrium quantity will both increase

Indicate whether the statement is true or false

Suppose the U.S. population is 275 million. If 210 million people are of working age, 135 million are employed, and 6 million are unemployed, what is the labor force participation rate?

A) 49 percent B) 67 percent C) 64 percent D) 51 percent E) 76 percent