The natural rate of unemployment is always more than the actual rate of unemployment because it excludes frictional and seasonal unemployment rates

The monetary policy (MP) curve indicates the relationship between

A) the Federal Funds Rate and the real interest rate. B) the Federal Funds Rate and the inflation rate. C) the inflation rate and the expected inflation rate. D) the real interest rate the central bank sets and the inflation rate.

Which of the following statements is correct?

a. By definition, all natural resources are nonrenewable. b. Market prices give us reason to believe that natural resources are a limit to economic growth. c. An economy must be blessed with ample quantities of natural resources if it is to be a highly productive economy. d. Differences in natural resources can explain some of the differences in standards of living around the world.