Which of the following does not characterize neoclassical economics?
A) the division of society into the working class, the capitalist class, and the landlord class.
B) the analysis of households and business firms.
C) the assumption that businessmen are motivated only by the desire for profit.
D) the belief that free competition leads to optimal results.
E) the elaboration of Adam Smith's notion of the "invisible hand."
Correct Answer:
Verified
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Q11: List and explain the five modifications made
Q12: Articulate the major ideas of the new
Q13: Articulate the major ideas of the new
Q14: Which of the following was not an
Q16: The neoclassical theory of consumption
A) argued that
Q17: The neoclassical theory of production
A) emphasized the
Q18: Which of the following as not a
Q19: The Social Darwinists believed that
A) competition is
Q20: The magnitude of which of the following
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