Neoclassical Economics Does Not Hold Which of the Following Assumptions

question 10

Multiple Choice

Neoclassical economics does not hold which of the following assumptions?

• A)People are fundamentally rational.
• B)People can make errors initially, but they learn quickly.
• C)People's errors are random and rare.
• D)People make regularly repeated mistakes.

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Definitions:

Logrolling

The process of exchanging favors, especially in politics by reciprocal voting for each other's proposed legislation.

Social Engineering

Social engineering involves manipulating individuals into divulging confidential or personal information for fraudulent purposes.

Grandstanding

Engaging in behavior or making statements intended to attract positive attention and impress others.

Marginal Benefit

The added contentment or utility derived from utilizing or producing an extra item of a good or service.