The Trump Family Is a Part of the Business Class

question 25

Multiple Choice

The Trump family is a part of the business class in the United States. They have a great deal of money, but the members of the family have to work hard to maintain their place. Because they represent "new money," Weber would say that the Trumps are:

• A) Rentiers
• B) Entrepreneurs
• C) Petite Bourgeoisie
• D) Bureaucrats

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Definitions:

Government Agency

A permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions.

Negative Externality

A cost that affects a party who did not choose to incur that cost, typically resulting from economic activity by another party.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both private costs and external effects.

External Social Cost

Costs of production or consumption that affect individuals not involved in the transaction, often unaccounted for by the market price.