-Refer to Table 16-9. Gasoline prices were at historical highs in the fall of 2005. After adjusting for inflation, how high were these gasoline prices compared to gasoline prices over the last 30 years? The table below 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 2005 dollars.

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-Refer to Table 16-9. Gasoline prices were at historical highs in the fall of 2005. After adjusting for inflation, how high were these gasoline prices compared to gasoline prices over the last 30 years? The table below 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 2005 dollars.