Answer:
A: Conspicuous Consumption
Step-by-step explanation:
This is an example of conspicuous consumption because it is almost exactly correlates with the definition and makes a lot more sense than the other answers.
Here is Wikipedia's definition of Conspicuous Consumption: Conspicuous consumption is the spending of money on and the acquiring of luxury goods and services to publicly display economic power of the income or of the accumulated wealth of the buyer. To the conspicuous consumer, such a public display of discretionary economic power is a means of either attaining or maintaining a given social status.[1][2]
Doesn't that sound a lot like the Smith family that is mentioned in the question?