FINA 2330 Exam Questions with Correct Answers Latest Update 2025/2026
The popular book, The Millionaire Next Door, details the extravagant lives of the wealthiest
people in various communities throughout the United States. - Answers False
Schor states that "many of us are continually comparing our own lifestyle and possessions to a
select group of people we respect and want to be like." She calls this... - Answers Competitive
Acquisition
According to Schor, a/an __________ __________, is a group with which a person is more likely to
compare themselves and their lifestyle. - Answers Reference Group
Adam Smith was the author of which book? - Answers The Wealth of Nations
Schor says that daily exposure to an economically diverse set of people is one reason why
Americans began engaging in more upward comparison. - Answers True
Schor observed that a large majority of Americans are conscious of being motivated by social
status and intentionally make purchases that are knowingly meant to elevate that status. -
Answers False
According to Schor, very few economists have found that consumer satisfaction, and
dissatisfaction, actually depend less on what a person has in an absolute sense than on socially
formed aspirations and expections. - Answers False
__________ is what Schor calls the process of reducing work hours, thereby earning and spending
less, with the goal of leaving behind the pressures for upscale consumption. - Answers
Downshifting
According to Schor, the ______ were the so-called "decade of greed." - Answers 1980's
According to Schor, the most obvious social trend of the 1970's that was altering the nature of
comparative consumption was: - Answers an increase in married women entering the work
force
According to Schor, Bourdieu argues that tastes and preferences don't just evolve out of
individual likes and dislikes but are instead more likely to be socially produced by: - Answers
inequalities in class.
Bourdieu defines habitus as: - Answers All of these are correct
According to Schor, a study by Russell Belk in the 1980's found that observers could predict
reasonably well a person's family income and occupation by investigating the contents of his or
her: - Answers purse or wallet.
According to Schor, in modern society, not having money can result in a profound: - Answers
social disability.
, Schor highlights that many Homeowner's Associations ban things like campers in the driveway,
clothes lines (for hanging laundry outside to dry,) loud noise and rabbit hutches because: -
Answers these things "reek of the lower classes."
According to Schor's colleague Tracy Tefertiller, there was a high degree of consensus middle
class teenage boys about which athletic shoes were in and out. - Answers True
Schor states that Belk and his colleagues found that children in grade 5 or less (age 11 or so)
are not persuaded by the images of symbolic consumption because the ability to discern certain
symbols of social class does not begin to develop until middle school. - Answers False
According to Schor, researchers have not definitively found that what you wear, drive and own
affects how people treat you. - Answers False
In contrast to what he originally assumed, Bourdieu found almost no regularities in French
consumer patterns within specific economic classes. - Answers False
Schor states that traditionally consumer desires have been prompted by exposure to a
reference group. - Answers True
Schor conducted a study of women's lipstick preferences. In her study she found that there was
______ variety in the price of lipstick. - Answers a wide
In the lipstick study, Schor found that there was ______ variety in the quality of lipstick, when
blind-tested. - Answers no
Schor highlights a study by Gollwitzer and Wicklund that found that business majors with lower
grades and poorer job prospects were _______________ to buy expensive briefcases, pens and
wristwatches. - Answers more likely
According to Schor, when asked how important a brand name was for visible items such as
sneakers, teenagers said that it was _______ important than the name on items such as
shampoo or stationery. - Answers two to three times as
Childers and Rao found that "peer group influence" is ___________ for visibly consumed than for
those consumed in private. - Answers always higher
Schor conducted a study on facial cleansers and the results were basically identical to the
lipstick study. - Answers False
Schor found that people with higher education levels actually did less status purchasing, which
she argued highlighted the importance of a college education in overcoming the trappings of
consumerism. - Answers False
Schor admits that her lipstick study does not explain whether consumers desire social status or
are simply trying to avoid humiliation. - Answers True
The popular book, The Millionaire Next Door, details the extravagant lives of the wealthiest
people in various communities throughout the United States. - Answers False
Schor states that "many of us are continually comparing our own lifestyle and possessions to a
select group of people we respect and want to be like." She calls this... - Answers Competitive
Acquisition
According to Schor, a/an __________ __________, is a group with which a person is more likely to
compare themselves and their lifestyle. - Answers Reference Group
Adam Smith was the author of which book? - Answers The Wealth of Nations
Schor says that daily exposure to an economically diverse set of people is one reason why
Americans began engaging in more upward comparison. - Answers True
Schor observed that a large majority of Americans are conscious of being motivated by social
status and intentionally make purchases that are knowingly meant to elevate that status. -
Answers False
According to Schor, very few economists have found that consumer satisfaction, and
dissatisfaction, actually depend less on what a person has in an absolute sense than on socially
formed aspirations and expections. - Answers False
__________ is what Schor calls the process of reducing work hours, thereby earning and spending
less, with the goal of leaving behind the pressures for upscale consumption. - Answers
Downshifting
According to Schor, the ______ were the so-called "decade of greed." - Answers 1980's
According to Schor, the most obvious social trend of the 1970's that was altering the nature of
comparative consumption was: - Answers an increase in married women entering the work
force
According to Schor, Bourdieu argues that tastes and preferences don't just evolve out of
individual likes and dislikes but are instead more likely to be socially produced by: - Answers
inequalities in class.
Bourdieu defines habitus as: - Answers All of these are correct
According to Schor, a study by Russell Belk in the 1980's found that observers could predict
reasonably well a person's family income and occupation by investigating the contents of his or
her: - Answers purse or wallet.
According to Schor, in modern society, not having money can result in a profound: - Answers
social disability.
, Schor highlights that many Homeowner's Associations ban things like campers in the driveway,
clothes lines (for hanging laundry outside to dry,) loud noise and rabbit hutches because: -
Answers these things "reek of the lower classes."
According to Schor's colleague Tracy Tefertiller, there was a high degree of consensus middle
class teenage boys about which athletic shoes were in and out. - Answers True
Schor states that Belk and his colleagues found that children in grade 5 or less (age 11 or so)
are not persuaded by the images of symbolic consumption because the ability to discern certain
symbols of social class does not begin to develop until middle school. - Answers False
According to Schor, researchers have not definitively found that what you wear, drive and own
affects how people treat you. - Answers False
In contrast to what he originally assumed, Bourdieu found almost no regularities in French
consumer patterns within specific economic classes. - Answers False
Schor states that traditionally consumer desires have been prompted by exposure to a
reference group. - Answers True
Schor conducted a study of women's lipstick preferences. In her study she found that there was
______ variety in the price of lipstick. - Answers a wide
In the lipstick study, Schor found that there was ______ variety in the quality of lipstick, when
blind-tested. - Answers no
Schor highlights a study by Gollwitzer and Wicklund that found that business majors with lower
grades and poorer job prospects were _______________ to buy expensive briefcases, pens and
wristwatches. - Answers more likely
According to Schor, when asked how important a brand name was for visible items such as
sneakers, teenagers said that it was _______ important than the name on items such as
shampoo or stationery. - Answers two to three times as
Childers and Rao found that "peer group influence" is ___________ for visibly consumed than for
those consumed in private. - Answers always higher
Schor conducted a study on facial cleansers and the results were basically identical to the
lipstick study. - Answers False
Schor found that people with higher education levels actually did less status purchasing, which
she argued highlighted the importance of a college education in overcoming the trappings of
consumerism. - Answers False
Schor admits that her lipstick study does not explain whether consumers desire social status or
are simply trying to avoid humiliation. - Answers True
