University tuition in most of Canada has risen significantly in the last decade. For the sake of
Question:
University tuition in most of Canada has risen significantly in the last decade. For the sake of this problem, we note that over the last 10 years the average tuition cost for full-time undergraduate students enrolled in a social science program went from $4,165 to $5,566, a 34% price increase. During this same time period, a full-time undergraduate student in a Canadian business program saw their average tuition rise from $4,637 to $6,776, a 46% price increase. It could be worse—graduate students in Ontario Executive MBA programs saw the average level of tuition rise from $33,253 to $93,998, a 183% price jump. Over the same time, average family income after-taxes rose about 23%. Have these tuition increases made it more difficult for the average student to afford university tuition?
Step by Step Answer:
Macroeconomics
ISBN: 978-1319120054
3rd Canadian edition
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson