Economists who study economic mobility have found that the income of a grandfather and his grandson's income are

According to this Application, after the government deceased cigarette taxes in several Canadian provinces in 1994, the decrease in the price of cigarettes in these provinces

A) increased the smoking rate by roughly 17 percent B) more than doubled the smoking rate. C) created no noticeable change in the smoking rate. D) was accompanied by a slight decrease in the rate of smoking.

When consumers substitute a cheaper good for a more expensive one, the CPI will ________ the change in the cost of living.

A. equal B. precisely measure C. overstate D. understate