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Assume tuition at the University of Virginia cost $2,962 (per semester) in 2004 and $11,584 in 2012. If the price index was 184 in 2004 and 226 in 2012, then we could say tuition has increased more slowly
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14 votes
14 votes
Assume tuition at the University of Virginia cost $2,962 (per semester) in 2004 and $11,584 in 2012. If the price index was 184 in 2004 and 226 in 2012, then we could say tuition has increased more slowly than inflation. tuition has increased much more rapidly than inflation. tuition has increased at about the same rate as inflation. nominal tuition has increased. tuition suffers from menu costs due to inflation.

User Pramod Setlur
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16 votes
16 votes

Answer:

tuition has increased much more rapidly than inflation.

Step-by-step explanation:

2.6

18.6

User Paul W
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