The single most important observation of the book is the causal significance of aggregate demand policies for the incidence of poverty

One of the major weaknesses of the Federal Reserve Bank of St. Louis econometric model was that it

A) was large and cumbersome. B) was limited to analyzing an economy with substantial unemployment. C) did not specify the categories of private spending that were affected by monetary policy. D) included a government spending multiplier that was clearly too high.

When a firm sells 1 million coat hangers, its total revenue is $2 million. When it sells 2 million coat hangers, its total revenue is $3.5 million. Is this firm a price taker? Explain