In 1970,Professor Plum Earned 12,000 Dinars; in 1980,he Earned 24,000;

question 54

Multiple Choice

In 1970,Professor Plum earned 12,000 dinars; in 1980,he earned 24,000; and in 1990,he earned 36,000.If the CPI was 40 in 1970,60 in 1980,and 100 in 1990,then in real terms,Professor Plum's salary was highest in

• A)1980 and lowest in 1970.
• B)1980 and lowest in 1990.
• C)1990 and lowest in 1970.
• D)1990 and lowest in 1980.

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Definitions:

Exclusionary Contract

An agreement that restricts a party from engaging in similar agreements with other parties, often used to protect business interests or trade secrets.

Mandatory-Dealing Contract

A Mandatory-Dealing Contract is a legal agreement requiring one party to conduct business with another party, often within specific conditions or limitations.

Antitrust Laws

Legislation intended to promote competition among businesses and prevent monopolistic practices.

Economic Efficiency

A condition where resources are allocated in a way that maximizes the production of goods and services.