Question

Chase is a recent college graduate with a new job as an engineering trainee for a large defense company. Now that he is making good wages, he hopes to start saving for his first house and also contribute toward the company retirement plan. As he looks over his monthly bills, Chase is concerned about ever getting ahead of the game. His food bill, car payment, and mounting gasoline payments keep him in the "just making ends meet" category. As his mind wanders back to the "good ol' college days," he reflects on a time when gas and food seems a lot more reasonable. Chase is experiencing the effects of:

Answer 1

Inflation

Step-by-step explanation:

When inflation occurs the average price for the same products will gradually increasing over time and make the value of the currency become lesser than it used to be. (this make Chase had the perception that the price during his college years is lower compared to the current time)

This tends to occurs when the average demand for all products in the country is increasing at a much faster rate than the increase in production capacity.