Correct Answer: (c) The author is at liberty to be extravagant at all times.
Solution:The author is at liberty to be extravagant at all times. According to the passage, the author is not at liberty to be extravagant at all times. If he has money to spare, he is extravagant. If he has shortage of money then he becomes the meanest person imaginable. Hence, option (c) is not true.