Final answer:
The main distinction between W. Lloyd Warner's upper-upper and lower-upper classes was not simply that of 'old money' and 'new money.' The social standings, customs, and norms associated with wealth differ between the two classes.
Step-by-step explanation:
The main distinction between W. Lloyd Warner's upper-upper and lower-upper classes was not simply that of 'old money' and 'new money.' While both types may have equal net worth, they have traditionally held different social standings.
People of old money, firmly situated in the upper class for generations, have held high prestige. Their families have socialized them to know the customs, norms, and expectations that come with wealth. On the other hand, new-money members of the upper class are not oriented to the customs and mores of the elite. They haven't gone to the most exclusive schools or established old-money social ties.
Therefore, T/F - The main distinction between W. Lloyd Warner's upper-upper and lower-upper classes was essentially that of 'old money' and 'new money' - False.