The answer is "New England"
An open compound is a word where an adjective is added and creates a new noun, so "New" is added to "England" to create a new noun "New England"
another example of an open compound would be "peanut butter"
(A) Attaching importance to wealth
To me it means: Every choose you make, reflects on what take of person you are. Depending on what decisions you make in life it can either reflect poorly or good on your character. Your character is how other people will see you throughout this world and decided your reputation. Since “life is a matter of choices” like it states, you can choose how people view you through the decisions you make in life.
(sorry i couldn’t make it two paragraphs because I didn’t want to be repetitive but you can elaborate on my interpretation)
I believe it is B - It provides momentum throughout the poem.
(please let me know if I am wrong, also I apologize in advanced just in case it is wrong.)