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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