Table 20-21
Source: Energy Information Administration
-Refer to Table 20-21. 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:
Equal Employment Opportunity Commission
A federal agency responsible for enforcing laws against workplace discrimination and advocating for fair treatment of all employees.
National Labor Relations Board
The National Labor Relations Board (NLRB) is an independent US federal agency responsible for enforcing US labor law in regard to collective bargaining and unfair labor practices.
Equal Employment Opportunity Legislation
Laws designed to prevent discrimination in the workplace based on race, color, religion, sex, national origin, age, disability, or genetic information.
Employee Retirement Income Security Act
A national regulation establishing basic requirements for the majority of privately initiated pension and health schemes in the private sector, aimed at safeguarding participants in these programs.
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