ECON600 assignment 11 latest
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Samuelson and Marks, Discussion Question, p. 241.
Over the last 30 year in the US, the real price of a college
education (i.e. after adjusting for inflation) has increased by almost 70
percent. Over the same period, an increasing number of high school graduates
have sought a college education. (Nationwide college enrollments almost doubled
over this period.) While faculty salaries have barely kept pace with inflation,
administrative staffing (and expenditures) and capital costs have increased
significantly. In addition, government support to universities (particularly
research funding) has been cut.
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