Assume Tuition and Fees at North Carolina State University Cost

question 16

Multiple Choice

Assume tuition and fees at North Carolina State University cost $4,259 in 2004 and $7,787 in 2012.If the price index was 184 in 2004 and 226 in 2012,then we could say

• A) tuition has increased more slowly than inflation.
• B) tuition has increased more rapidly than inflation.
• C) tuition has increased at about the same rate as inflation.
• D) nominal tuition has decreased.
• E) tuition suffers from money illusion due to inflation.

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Definitions:

Reverse Fault

A fault in which the hanging wall moves up relative to the footwall.

Joint

A fracture in a rock where the rock has been pulled apart slightly without significant displacement parallel to the fracture.

Anticlines

Upward folds or arches of rock layers, often associated with oil and natural gas deposits.

Synclines

Geological folds that dip towards each other from opposite sides, often forming a trough-like structure.