When Marcus went to college, tuition was $650 per semester. Now that same college charges $6,500 per semester. This number reflects a persistent increase in price known as
A)currency fluctuation.
B)inflation.
C)recession.
D)interest.
E)deflation.

Question

Quizplus · Accepted Answer

The persistent increase in price of tuition is known as inflation, which is a measure of the increase in the general price level of goods and services in an economy over a period of time.

When Marcus Went to College, Tuition Was $650 Per Semester