Final answer:
The critique of Social Exchange theory that it overemphasizes material exchange and undervalues nonmaterial aspects like love and friendship corresponds to the statement: "It emphasizes the importance of social norms." This viewpoint criticizes the theory's assumption that social interactions are predominantly strategic and material in nature.
Step-by-step explanation:
The critique of Social Exchange theory that states it is often criticized for affording too much emphasis to material exchange and devaluing nonmaterial assets such as love and friendship is: "It emphasizes the importance of social norms."
Social Exchange theory, which comes under rational choice approaches, posits that humans are motivated to maximize benefits and minimize costs in relationships. Critics argue that the theory tends to overlook the value of nonmaterial benefits like emotional support, love, and companionship, which can also be critical in maintaining relationships. Moreover, it assumes that individuals within these social interactions are always strategically calculating, potentially ignoring altruistic behavior or the importance of social and cultural norms in guiding behavior.
The criticism suggesting that the theory overemphasizes material exchange aligns with option (a) as it implies that nonmaterial aspects of social life, which are essential components of social norms, are underestimated by the theory.