If the consumer price index (CPI) rises over a year from 220 to 230, then the inflation rate is 10 percent.
a. True
b. False
Indicate whether the statement is true or false
Question 2
If we compare median family income in the U.S. for families headed by an adult with no more than a high school education to that of families headed by an adult with a bachelor's degree, which of the following best describes what we will find?
a. Median family income for families headed by an adult with a bachelor's degree is approximately 70 percent higher than families headed by an adult no more than a high school education.
b. Median family income for families headed by an adult with a bachelor's degree is approximately 25 percent higher than families headed by an adult no more than a high school education.
c. Median family income for families headed by an adult with a bachelor's degree is approximately 50 percent higher than families headed by an adult no more than a high school education.
d. Median family income for families headed by an adult with a bachelor's degree is approximately 90 percent higher than families headed by an adult no more than a high school education.
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