According to Thorstein Veblen, a successful businessman would be most likely to demonstrate his worth to others by:
A. purchasing tasteful pieces of art and enjoying them only in private.
B. avoiding vulgar displays of wealth such as mansions and expensive cars.
C. buying expensive jewels for his trophy wife and showing her off at parties.
D. anonymously giving financial support to worthwhile charitable organizations.
Answer: C
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a. True b. False Indicate whether the statement is true or false
Public choice is concerned with decision making by
A) consumers. B) businesses. C) government. D) foreigners. E) consumers and businesses.
Under monopolistic competition, a long-run equilibrium exists when price equals:
A. marginal revenue. B. minimum average total cost. C. average total cost. D. marginal cost.
After the Civil War, the National Banking Acts gave the federal government the power to do all of the following except _____.
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