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Binghamton ECON 345 – Which of the following must

Binghamton ECON 345 – Which of the following must 17.Which of the following must be true if the price of college tuition has risen faster than the consumer price index in the past 20 years?A)The real price of college tuition has risen.B)The nominal price of college tuition has risen.C)The real price of college tuition has not changed.D)Both A and B are correct.E)Both B and C are correct.8.Suppose you paid $2.50 for a beer in 2004 and $3 exactly a year later. The price in 2004 is measured in _______ dollars; the price in 2005 is measured in _________ dollars.A)real; realB)nominal; realC)real; nominalD)nominal; nominalE)None of the answers is correct.