Starting faculty salaries (nine-month basis) for assistant professors of business administration at a major Midwestern university follow. Use the CPI to deflate the salary data to constant dollars. Comment on the trend in salaries in higher education as indicated by these data.

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Starting Salary () 14,000 17,500 23,000 37,000 53,000 65,000 80,000 110,000 CPI (1982-1984 Base) 38.8 53.8 82.4 107.6 130.7 152.4 172.2 195.3 Year 1970 1975 1980 1985 1990 1995 2000 2005