Iggie Took a University Teaching Job as an Assistant Professor

question 48

Multiple Choice

Iggie took a university teaching job as an assistant professor in 1980 at a salary of $15,000.By 2011,she had been promoted to full professor,with a salary of $70,000.If the price index was 82 in 1980 and 225 in 2011,then what is Iggie's 1980 salary in 2011 dollars?

• A)$5,400
• B)$20,466
• C)$26,158
• D)$41,159

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