Quiz Content

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. According to Veblen, in what circumstances can personal savings serve the same reputation-enhancing function as conspicuous consumption?

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. Galbraith makes advertising analogous to which mythical creatures?

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. According to Galbraith, which notion still survives as the predominate view of modern economics?

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. The way wants depend on the process by which they are satisfied is called:

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. The "inherent tendency" of public services, according to Galbraith, will always be what?

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. Hayek attempts to point out the flaw in Galbraith's argument by applying it to what?

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. Hayek and Galbraith agree that:

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. Hayek's response to Galbraith's argument about the dependence effect is that:

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. Goldman mentions all of the following conditions of pure competition EXCEPT:

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. Alan Goldman's opinion of advertising is that:

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. Why does Goldman think that advertisers should be truthful?

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. Savan thinks that we don't actually buy products, but that we buy:

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. What does Savan mean by "the sponsored life"?

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. Which of these is NOT one of Savan's suggestions for protecting yourself from advertising?

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. Restrictions on advertising arguably violate the right to free speech.

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. According to Veblen, people are more likely to engage in conspicuous consumption in cities than in rural areas.

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. The notion of dependently determined wants is more prevalent today, according to Galbraith.

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. Hayek thinks that his love of Jane Austen novels is original to himself, not created.

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. Hayek argues that created desires can still be important desires.

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. Deception in advertising is less common than we think.

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. Goldman points out some positive effects of advertising, such as informing consumers about different products.

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. "Conspicuous consumption" of valuable goods, Veblen argues, is a way that persons might attempt to demonstrate that they enjoy a high reputation.

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. Savan thinks that commercials simply sell our experiences back to us.

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. Building a relationship with a person is impossible if you are trying to sell to him or her.

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