The answer is yes, in the sense that your computer cannot send more
information to the printer than what is contained in the jpeg file. So your
prints are of a quality dependent upon the level of compression you selected
in your camera.
A jpeg file is a "compressed" file in the sense that the information
captured by the sensor of your digital camera is stored in the jpeg format
(or TIF or RAW format if your camera can do this, these are so to speak
uncompressed formats and the file size will be much larger).
Your camera uses this compression (instead of RAW or TIF) to save space on
your memory card and if you look in your camera manual you will see that you
can use different level of compression. Something like "ultra fine", "fine"
etc. The higher the compression level you select in your camera, the smaller
the file will be and the lower the quality of the print will be.
When you send a jpeg file to your printer, the information available is only
what is in the jpeg file (according to the level of compression you selected
in your camera), nothing more and nothing less. There is no "decompression",
there is only a translation (the printer driver does this) of the
information in the jpeg file to your printer.
So, the print will be better if you select the lowest compression level
available in your camera.
You can take a look at this site about jpeg compression and how it affects
the image and print.
http://en.wikipedia.org/wiki/JPEG