Iggie Took a University Teaching Job as an Assistant Professor

question 105

Multiple Choice

Iggie took a university teaching job as an assistant professor in 1974 at a salary of $10,000. By 2003, she had been promoted to full professor, with a salary of $50,000. If the price index was 50 in 1974 and 180 in 2003, then what is Iggie's 2003 salary in 1974 dollars?

• A)$13,888.89
• B)$40,000
• C)$65,000
• D)$180,000

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