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Nominal price of a college education

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The nominal price of a college education rose from 15212 in 1993 to 18273 in 2002. The CPI was 107.6 in 1985, 144 in 1993 and 205. in 2007.

a) What was the real price of a college education in 1993 in 1985 dollars?

b) In real terms was college more expensive in 1993 or 1997?

Reference no: EM131177062

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