Lito and Jose Are Second-Generation Immigrants from Argentina

question 12

Multiple Choice

Lito and Jose are second-generation immigrants from Argentina.Their ethnic identity is likely to be linked to

• A)retention of their native language.
• B)whether or not they are close to their parents.
• C)the presence of extended family in the home.
• D)None of these choices are correct.

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Definitions:

Inefficient Outcomes

Situations where resources are not allocated optimally, leading to wasted resources or unfulfilled potential in an economy.

Invisible Hand

A metaphor for the unseen forces that move the free market economy through competition for scarce resources.

Government's Economic Activity

Refers to the various ways governments influence or directly participate in the national economy, including taxation, spending, and regulation.

Economic Efficiency

The optimal allocation of resources to maximize the production of goods and services. Efficiency is achieved when no additional output can be gained without increasing the amount of inputs.