Criticisms of neoclassical economic theory include all of the following EXCEPT
A) it has a lack of historical or social context.
B) this theory does not represent consumption as a social act as well as an economic one.
C) it assumes that people's choices don't affect each other.
D) humans generally act rationally in economic matters.
E) it is difficult to reduce social problems to individual causes and solutions.

Question

Quizplus · Accepted Answer

Neoclassical economic theory assumes that humans act rationally in economic matters. The other options are criticisms of the theory.

Criticisms of Neoclassical Economic Theory Include All of the Following