The Cost of College Tuition for 12 Credit Hours at a Local

question 317

Multiple Choice

The cost of college tuition for 12 credit hours at a local college during 2000 to 2008 is shown in the table below. Find the net change in the cost of college tuition from 2000 to 2005 and state if the net change was an increase or decrease.

• A) -195 decrease
• B) 312 increase
• C) -312 decrease
• D) 195 increase
• E) 39 increase

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Definitions:

Budget Line

A visual depiction of every combination of two items that a buyer can afford with a specific budget at constant prices.

Price of Food

The amount of money required to purchase food products, influenced by factors like supply and demand, production costs, and government policies.

Price of Clothing

The amount of money required to purchase garments, influenced by factors like brand, quality, and market demand.

Economic Stimulus Package

A set of economic measures put forth by a government to stimulate a floundering economy and promote growth.