Which of the following determinants of the level of consumption is associated with Thorstein Veblen?

A) Credit availability
B) The level of disposable income
C) The stock of liquid assets in the hands of consumers
D) Keeping up with the Joneses
E) Consumer expectations

Thorstein Veblen

An American economist and sociologist known for his theories on the socio-economic impacts of conspicuous consumption and leisure.

Consumption

The process by which goods and services are utilized by consumers, leading to a decrease in their quantity or quality, reflecting the end phase of economic activity.

Disposable Income

Post-income tax financial reserves set aside for households to utilize in spending and saving.