Purpose: The homework gives you further practice with the topics of Section 1. It also leads us into
topics in Section 2 and later parts of our course.
Directions: Please hand this homework in at the start of class on Monday, October 6. Please type your
answers to make your work easier to grade. Also, so we have an accurate record of who turned it in,
please also submit it to the “Dropbox” in Angel’s Homework Section. Please do this submission in
Microsoft Word format (i.e. .doc or .docx) or Adobe pdf format (note that Macs can do this too). Finally
please include your name in the filename of the upload.
You may work with others but you must write up your own answers.
Be sure to show your calculations and to briefly yet carefully explain your answers.
There are 10 questions. To make this a 20 point homework each question is worth 2 points.
You’ll need this data for questions 1 to 4
year
1913
1963
2013

CPI
9.9
30.6
233

nominal GDP
(billion)
$36
$639
$16,738

GDP deflator
6.1
18.1
106.7

U.S. population
(million)
97
189
316