Conspicuous Purchases by Rich People Are Often Designed to

question 13

Multiple Choice

Conspicuous purchases by rich people are often designed to . . .

• A) ensure their status within the upper class.
• B) demonstrate their wealth to ordinary (non-rich) people.
• C) bolster the local economy.
• D) hide wealth in non-tangible sources.
• E) act as diplomatic gestures between a wealthy owner and buyer.

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Definitions:

20th Century

A historical period spanning from January 1, 1901, to December 31, 2000, known for significant technological, political, and social changes.

Enacted

A term referring to laws that have been officially made by a legislative body and have become effective.

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged, in order to be enforceable.

Enforceable

That which can be compelled or executed in accordance with legal statutes or regulations.