In a two-person exchange, if the price offered to the seller is less than the opportunity cost of production, the exchange will not take place

The American colonies have a rich and deep history in international trade and immigration

Indicate whether the statement is true or false

Do policy makers know the level of unemployment that is associated with “full employment”?

A. Yes, economists have the precise level of unemployment that is full employment. B. Yes, although there is a small range of uncertainty in this measure. C. No, economists have no idea what this level of unemployment is. D. No, this number is not known with complete accuracy.