What Did the Writings of Thorstein Veblen, William James, and Herbert

question 42

Multiple Choice

What did the writings of Thorstein Veblen, William James, and Herbert Croly have in common?

• A) They formed the intellectual and ideological foundations of Social Darwinism.
• B) They were the most prominent examples of the intellectual assault on progressivism that began around 1920.
• C) They implicitly supported the need for far-reaching reforms of American society.
• D) They were misread by progressives to mean that socialism was the nation's only hope of social reform.
• E) They provided the intellectual and legal arguments used to support Jim Crow laws.

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Definitions:

Price Ceiling

A legally established maximum price that can be charged for a good or service.

Shortage

A scenario where the market's supply of a specific product or service is outstripped by consumer demand.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, leading to a balance where there is no tendency for the price to change.

Price Ceiling

A regulatory limit placed on the amount that can be charged for commodities and services, to prevent market imbalances.