Refer to Figure 2.3.3 above. Which of the two panels best describes the trend in college costs from 1970 to 2016?

A) Panel (a)
B) Panel (b)
C) Both panels
D) Neither panel

College Costs

The total expenses associated with attending a college or university, which include tuition, room and board, books, and other fees.

Trend

A long-term direction or pattern in data, often observed in economic variables, stock market prices, or consumer behavior over time.

Panels

Groups of selected individuals brought together to discuss, test, or provide opinions on specific topics, products, or research questions.