Table 13-21 Source: Energy Information Administration
-Refer to Table 13-21

question 199

Essay

Table 13-21
$\begin{array}{|c|c|c|c|}\hline && \text {Average Retail Price }\\&& \text { Unleaded Regular }\\&& \text {Gasoline}&\text { CPI }\\ \text { Year } & \text { Month } & \text { (centsper gallon) } & (1982-1984=100) \\\hline 1976 & \text { June } & 59.2 & 56.8 \\\hline 1981 & \text { September } & 137.6 & 93.2 \\\hline 1994 & \text { December } & 114.3 & 149.7 \\\hline 2011 & \text { October } & 340.0 & 226.9\\\hline\end{array}$ Source: Energy Information Administration
-Refer to Table 13-21.The table above reports the consumer price index and the average U.S.retail price for unleaded regular gasoline for four different periods since 1976.Note that the gasoline prices are in cents per gallon.
Calculate the real average retail price of unleaded regular gasoline in 1982-1984 dollars.In which period were gasoline prices the highest in real terms? Also,calculate the real average retail price of unleaded regular gasoline in 2011 dollars.

---

Definitions:

Group-Level Rewards

Incentives or benefits given to a group collectively for achieving certain goals or metrics, encouraging teamwork and collective success.

Team Challenges

Issues or obstacles that a group of individuals working together may face in achieving their collective goals.

Quality Circles

Groups of workers who meet regularly to discuss and solve problems affecting the quality of their work.

Psychological Safety

A belief or sense within a group or organization that one can speak up, offer ideas, and ask questions without fear of punishment or ridicule.