Who made these statements? "Conspicuous consumption of valuable goods is a means of reputability to the gentlemen of leisure." "With the exception of the instinct of self-preservation,the propensity for emulation is probably the strongest and most alert and most persistent of the economic motives proper".

A) John Maynard Keynes
B) Milton Friedman
C) Murray Weidenbaum
D) Thorstein Veblen
E) John Kenneth Galbraith

Benefits that would satisfy buyers' unimportant needs should be deemphasized in the sales presentation.

An adjusting entry

A) affects two balance sheet accounts.
B) affects two income statement accounts.
C) affects a balance sheet account and an income statement account.
D) is always a compound entry.

Statement I.The circular flow model oversimplifies the exchanges in our economy.
Statement II.Most of the money received by households in the form of wages,rent,interest,and profits flows back to business firms in the form of consumer expenditures.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.