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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Definitions:

Circular Differentiation

The process of distinguishing entities or elements in a system based on their roles, attributes, or positions in a circular, rather than linear, hierarchy.

Lateral Differentiation

The way in which an organization segregates its operations and responsibilities across the same hierarchical level.

Standardization

The process of implementing and developing technical standards to ensure consistency and compatibility within products, services, or processes.

Formalization

The degree to which the organization has official rules, regulations, and procedures.