The main criticism leveled at the rational expectations school of economic thought is that

A) they assume too much influence due to monopoly power.
B) they just go too far in ascribing rationality to the general population.
C) the assumption that the velocity of circulation is predictable in the short run is not borne out by the facts.
D) the assumption that labor union contracts create a rigid wage structure is unrealistic.

In which of the following would the plaintiff not succeed in an action for negligence?

A) A real-estate agent accidentally forgot to lock the back door of the house he had just shown. Before the owner returned, someone broke in and stole the TV. The owner sued the agent.
B) A real-estate agent failed to check the zoning and assured the purchasers that they could build a duplex on the property. Relying on that statement, they purchased the property.
C) Shunan was made sick by drinking a contaminated cola bought for her by her friend Fred. She sued the manufacturer.
D) Dr. Alberts used the skill of a reasonable doctor in that field, but the patient did not respond to the treatment and lost hearing in one ear. She sued the doctor.
E) Pradeep was hurt when a driver of a Gino's pizza truck carelessly ran through a yellow traffic light on his way to deliver a pizza. Pradeep sued the driver and Gino, his employer, although Gino wasn't even in the truck.

An attempt at a(n) ________ occurs when one corporation makes a tender offer to the shareholders of another corporation.

A) merger
B) consolidation
C) stock acquisition
D) asset acquisition

Lucas Company uses the weighted-average method in its process costing system.

A) $6,120.
B) $5,520.
C) $3,060.
D) $6,000.

State governments establish the standard for drinking water in the United States.

Standard and actual costs for direct labor for the manufacture of 1,000 units of product were as follows: Determine the direct labor (a) time variance, (b) rate variance, and (c) total cost variance.