Refer to Figure 11.4. Which diagram illustrates the effect of a decrease in government spending?

Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt is best be considered as

A) still being employed. B) included in the economy's "hidden employment." C) frictionally unemployed. D) cyclically unemployed.

The demand for gasoline is perfectly inelastic because most people need gasoline to drive their cars

Indicate whether the statement is true or false