Research by James Smith indicates that the grandsons of Mexican males who immigrated to the U.S. in the early 1900s
a. have higher levels of education and higher salaries than their grandfathers.
b. have lower levels of education, but higher salaries than their grandfathers.
c. have about the same level of education as than grandfathers and similar salaries.
d. have lower levels of education and lower salaries than their grandfathers.
a. have higher levels of education and higher salaries than their grandfathers.
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If the CPI is currently 202, what does this tell you about inflation between last year and this year?
A) There was deflation in the economy between this year and last year. B) Inflation in the economy between this year and last year was 2%. C) Inflation in the economy between this year and last year was 102%. D) The CPI measures only the level of prices in a given year, not the percentage change in prices from one year to the next.
Supply is very inelastic if the quantity supplied cannot respond quickly to an increase in price.
Answer the following statement true (T) or false (F)