A year's tuition at a state university cost $250 in 1972 when the CPI equaled 0.418. The cost of a year's tuition at the same state university cost $8,000 in 2016 when the CPI equaled 2.40. The real cost of tuition between 1972 and 2016:
A)increased.
B)decreased.
C)remained constant.
D)may have either increased or decreased.

Question

Quizplus · Accepted Answer

The real cost of tuition increased from $598 ($250/0.418)in 1972 to $3,333 ($8,000/2.40)in 2016. In other words the real cost of tuition almost tripled in those 44 years.

A Year's Tuition at a State University Cost $250 in 1972