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Macro Unit 2 Summary- Measuring the Economy

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Hey, this is Jacob Clifford and welcome to the Macro Unit 2 Summary. This unit is about measuring the economy and covers topics like GDP (1:04), the business cycle (6:15), unemployment (7:28), the types of unemployment, the natural rate of unemployment, inflation (12:14), CPI, GDP deflato (17:59), and the causes of inflation (19:52). It also includes a pretty awesome Bonus Round (11:23). Be sure to subscribe and get the ultimate review packet. Thanks for watching. Get the packet and support ACDCEcon http://www.acdcecon.com/#!review-packet/czji Practice Multiple Choice Questions for Macro Unit 2 https://www.youtube.com/watch?v=Ks5MBWBdmQo Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3... Microeconomics Videos https://www.youtube.com/watch?v=swnoF... Watch Econmovies https://www.youtube.com/playlist?list... Follow me on Twitter https://twitter.com/acdcleadership
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Text Comments (353)
Jessica Vales (1 year ago)
Just got the ultimate package!!! I totally recommend it!! I learned in a couple of hours what I couldn't learn in weeks of classes. Thanks, Mr. Clifford! Love your videos!!
Eddy Marino (1 month ago)
How do you get the packet?
Rizz (10 months ago)
^ link is in the description, my dude. http://www.acdcecon.com/review-packet
bad habit Mgwali (11 months ago)
How do you get this ultimate review pack I have been tryin it but i dont get it
Rizz (11 months ago)
Just spend the $12, it really is worth Mr. Cliffords effort.
Mangani Zulu (1 month ago)
great videos, got me to understand all I needed in just minutes.
Mariana Ortiz (1 month ago)
You helped me pass my quiz!!
Allen Gentry (2 months ago)
Macro test in 5 hours
Daniel Bedrossian (2 months ago)
Mr. Clifford is #1!
Mike Sweeney (2 months ago)
exam tomorrow. oof
Mahnaz Ahmed (2 months ago)
Hey I had my unit 2 exam today as well! Did you appear for IAL?
Naseeba Faiza (2 months ago)
you deserve at least a minimum of 5m followers
Brendon Ho (2 months ago)
has anyone ever told you you look like mark cuban
Jacob Wilson (2 months ago)
On the basis of being unemployed if you're a full-time student, are you considered unemployed if you are also working part-time? I understand the full-time student being not applicable as part of the labor force, but I wasn't sure if it still qualified if you're working part-time at the same time. Thank you so much for the video!
Crash Trash (2 months ago)
You cant be a full time student if youre working part time
Liza Х (2 months ago)
I LOVE YOU
Spoutnik (3 months ago)
Bought the review packet. Gain was understanding 95% of the material in my class, which my professor explained about as well as grandpa in the video. Opportunity cost was $12. Highly recommend.
BERSERK ツ GAMING (3 months ago)
Superb videos sir. Your videos have helped me bring good marks in test as well as deep conceptual clarity..thank u clifford for this wonderful job
B M (3 months ago)
Thx u
Mtee (3 months ago)
thanks so much info right here but the links not working
Jean Gomes (3 months ago)
Man, you're the best!
Grace Bansr (3 months ago)
thanks for the help i appreciate your efforts
Martin Velez (3 months ago)
thank you soo much man
Begimai Temiralieva (3 months ago)
I laughed so hard when the equation started illuminating with the music hahhahha
Sarah Guarino (4 months ago)
I just brought your packet and these videos are a god send! i'm hoping now that this will help me pass my econ class!
Läîbá Mâlìk (4 months ago)
Bestttttttt video. Ever love from Pak
Nick Schobert (4 months ago)
why can't you be my teacher
Yansen Ch (4 months ago)
great video and helpful, especially the 30secs bonus round lolol
Zeynep Demirtaş (4 months ago)
Hi! Your videos are very helpful but i want something from you. For students are from another country like me(Turkey),your talking speed is very fast; if there is no time limit may you talk more slowly?? Thank uuu
Inga Suskevic (4 months ago)
Hi Mr. Clifford. How much is the ultimate package costs please?
Kevin Mokhiber (3 months ago)
@Inga Suskevic So when you buy it, you get the link to your email. There you will receive a pdf packet where all the syllabus notes and practices are located. On the second page, there is a link which takes you to all the summary videos and secret economic videos for people who bought the packet. Trust me, I know people who got 5's just by using the packet and videos. Its amazing
Inga Suskevic (4 months ago)
@Kevin Mokhiber Thank you for the reply. How do I receive the pack, by post or email?
Kevin Mokhiber (4 months ago)
It costs 12 dollars. You get access to the full packet of notes and practices , all of the summary videos, and secret videos that help prepare for both of the ap exams
Amber Perkins (4 months ago)
apperciate the videos!
Online-Tamil Economics (4 months ago)
I watch your videos for teaching purpose and make videos in my mother tongue Tamil.Thank you for your services.
Shoaib Khan (4 months ago)
Great sir it's very easy and helpful so sir request you kindly send me it soft copy through my Email
// (4 months ago)
"Just to cram for a test" why you gotta call me out like that 😂
Siphesihle Ndaba (4 months ago)
Your videos and tutorials are amazing!
Rose (4 months ago)
Love the bonus fight scene video
Luke Gorney [KPHS] (5 months ago)
Been using your material for years. First for me, then for my students. Priceless!!
Township Told (5 months ago)
Thanks Jakey I passed micro because of you
Alex Kanga (5 months ago)
Just know, you out here saving lives. Keep up the good work.
Amirhossein Bagheri (5 months ago)
You are the best. I started with grade D and now I got a B. Thanks Mr. Clifford
Nellie Emma Taylor (5 months ago)
Mr. Clifford you saved my grade in my university Macroeconomics course!! I was lost in a classroom where a prof didn't do his job, and I finally understood what Macroeconomics is all about. A million times thank you, I review your videos and my textbook before every test and haven't had any issues since I found this on YouTube!
LakeSkateMedia (5 months ago)
Mr. Clifford what is your venmo
Antonio Romayor Jr (5 months ago)
No better resource! Purchase the packet. It is well worth it. I read over 180 pages of textbook material. Without the individual videos, summary videos and the videos included with the packet, I would have not been successful in passing my college Macro and Micro classes. Go Mr. Clifford! #WGU #EconHerpes
audrey ch (5 months ago)
4:38 i knelt
Papa G (5 months ago)
I just wanted to let you know that you have been the best educator I have had. I was not too thrilled about this class although after the first video you have made me want to learn more. With your enthusiasm, you have sparked further interest in this topic. Thank you! I will recommend you to other students! Again you're awesome!
mitsuid_dave dingle (6 months ago)
national income is not yet the gdp right? so what is the formula for gdp using income approach?
mitsuid_dave dingle (6 months ago)
and how about the taxes in production and imports? is it not included in computation of national income? because in the book i'm using its included, just confused
Carey Miller (6 months ago)
Where do you get the energy???
Oglala Gags (6 months ago)
thank you very much, Mr Clifford! BTW you are thinner and more handsome now than you are in 2011 videos!
Tabitha Lloyd (6 months ago)
Was that 30 break chreographed?
andy chang (7 months ago)
Somebody correct me if I'm wrong, but Jacob said that inflation leads to less lending, because of higher interest rates. I thought it was the other way around, if theres more money in supply that leads to more inflation but lower interest rates. Could he mean that if there is higher inflation, banks want to lend less, because they know the money they will get back will be less valuable?
Mariah Phalange (7 months ago)
kahooters
Michael Provost (7 months ago)
He looks haggard
Syamilah (8 months ago)
Cpi 15:41
Ethan Pongracz (8 months ago)
"if you're not using this video to cram for a test" me: yes, yes i am
Shubhashree Khilar (8 months ago)
Thank you very much sir for clarify the basic concept....and ur teaching style is really awesome...
Jokage (8 months ago)
"YOU GOT REPLACED" DANG Mr. C you calling out and beefing with the lumberjacks
Ms. Chocolatey (8 months ago)
OMGDP!!! YOU ARE THE ECON GOD!! THANKS FOR TEACHING!
Fusion (8 months ago)
You're amazing at this! Thanks for the help :D
Andrea Tanio (9 months ago)
you talk tooo fast
Walsh World (9 months ago)
Your the best man, you and JOCZ made AP Econ and apush absolute jokes and easy As
Trying to learn (9 months ago)
Can you please explain "hurt by inflation", Lenders who lend money at a fixed interest rate). If I buy a house for $1 mio at 1.5 % interest. And there comes inflation. Then my salary will be adjust to that interest (In Denmark the unions negotiates this for the workforce). Then based on my higher income, I see it as the the "actual" value of my debt of $1 mio has actually been reduced based on my (now) higher income. Is this a misunderstanding of inflation?
Ulduz Ismayilova (9 months ago)
What you do is amazing!Thank you so much!
vanessa chen (9 months ago)
your video always give me a big help, I will buy your Ultimate package.
Alec (9 months ago)
"I recommend watching these videos if you're not cramming for a test" Lol gooood one Mr C, you know why im here
mustafa Adam (9 months ago)
Thanks sir
Erin Siqueira (9 months ago)
saved me
Samvit Agarwal (10 months ago)
Hey, I was a bit confused about the calculation for GDP deflator. Since the Real GDP(which is needed to calculate GDP deflator) takes into account inflation in the first place, wouldn't you need to know the inflation anyways? If so, how does calculating the GDP deflator help?
Ikram Mughal (10 months ago)
How can I get this review packet?
Mel C. (10 months ago)
So I took Macro and Micro economics over 10 years ago in college and decided to get educated in preparation of returning to school for a graduate degree. I wish you were around in 2004 (when I graduated) because I would have gotten more than my C- that I scraped by at. You are fantastic teacher and making it relatable and breaking it down Barney-style. Keep these videos going!
Muhammad Ameen Shaik (10 months ago)
Thanks alot. Your vids really help me. It gives me a better understanding of my especially since im in matric. Just on the side how do i get your package.
Taewon Chung (11 months ago)
I also got the packet today. This thing is totally worth it. I highly recommend it to all AP Econ students. Thank you.
druzy woozy (11 months ago)
that bit with the kids killed me actually a guy from the tech university in israel told me that's the best way to learn to have a break when you can't concentrate (it's the 15th best university in the world for computer engneering)
Ashley Frazee (11 months ago)
great videos. Ive got the review packet and its also worth the cost. Question: is an engine produced in a country counted in GDP even though its made to go in a car?
Speaking too fast like those late night tv commercials selling you stuff u will never use. Content is good but delivery ....
Jan Letsoalo (1 year ago)
HI MR Clifford I really benefit from your videos. I dont know how to thank you, it takes short time to learn your work. I wanna thank you. ( RSA)
lincy koshy (1 year ago)
Can you add a video on new keynesianism?
Tony Hoàng Long (7 months ago)
Wow, your video is absolutely great. But just 1 thing to point out, which nobody has yet noticed, is that a problem occurs with your mathematical calculations at 19:00. You said: "[...] Right? From 125 up to 150, that's an increase of 20%". Ok, shouldn't it be 25%? Anyways, I bet it was just a mistake, so don't worry! Thank you for the lesson.
Suood Alshehhi (1 year ago)
What is the different between deflator and deflation? Are they the same??
jamacale laam (1 year ago)
This is amazing .Keep it up
Reed Harvey (1 year ago)
Thank you so much!!!! U are seriously the greatest teacher on earth! U are helping me sooooooooo much!!
SCHRODINGER’S CAT (1 year ago)
this is just great.so glad when I find channels like these
Shonel Jonathan (1 year ago)
Thank you MR. Jacob for these amazing videos and movies it really changed my lifestyle
Jock Mitchell (1 year ago)
You knocked over my economics teacher in the mosh pit of an ACDC concert so i dont like u very much
Nafura (1 year ago)
So will there be a time in the future where, say, a water bottle might cost $50?
TheKillingBeast (1 year ago)
using this the day before my theme 2 exam lol
dylan park (1 year ago)
Ultracramming!!!
Sirus Fischbacher (1 year ago)
when he's breaking down the components of GDP the mouse is moving but his hands aren't on it... I want answers...
Simon ! (1 year ago)
where my 5 squad at?
amazia the guy (1 year ago)
AP in 2 days!!! Thx for the help :)
Kangmin Kim (1 year ago)
Actually At first I didn't purchased but now I've purchased for this Ur awesome Mr. Clifford! Better than any Asian teacher
Brenden Cannon (1 year ago)
If I pass this final. I stg I’ll find u and thank you in person
ken Ng (1 year ago)
That is the good tutor I never see it LoL Our school most of the tutor teacher are read the power point LOVE YOU
Esi Dentu (1 year ago)
I have my finals tomorrow and your videos have been of maximum help! Thank you Jacob Clifford!
Glenn Watson (1 year ago)
Is the packet the same every year or is it different? I bought it last year and it was very helpful.
XIAOXIAO,Julia YU (1 year ago)
Can you please do a user cost and RAB? If Facebook should charge user cost or we charge Facebook¿
Mosa Fahim (1 year ago)
just awsome ...........
Karim El Baba (1 year ago)
Really, this is amazing! Love it
Hayley Vella (1 year ago)
I just have one question that I can't understand at all. I found that the answers to the Income and Expenditure approach to calculate National Income are equal. I'm alright till there because GNI = GNE. But, then i found that these answers are equal to GDP. But since GNI = GNE = GNP, that would make GDP equal to GNP which I know is not true. Can you help me in this difficulty?
Delcio (1 year ago)
Why do I learn more here than in 3hrs lectures?!
Zayn Zazo (1 year ago)
(At 19.05) it should be 25% not 20%
L z (1 year ago)
I just got the ultimate package and I honestly think everyone should get it, I am an international student and Im fully understand the summary video and Mr. Cifford must worked hard on these videos and people who watched and benefit from it should show support to him, the pakage is much cheaper then tutor and textbook and its much better than tutor and even the professors.
Kaydan Pascual (1 year ago)
I love watching Mr Clifford Econ tutorials ,it made me understood Economics and i can relate with out using a lot of information just concepts
Mercy Tsitsi Whenga (1 year ago)
thank you sir...
Matthew Avis (1 year ago)
Struggling in macro? BUY. THE. ULTIMATE. GUIDE. You will thank me later.
Avi Gupta (1 year ago)
you are better than my ap macroeconomics teacher. thank you, you selfless human being. may god bless you forever, and my teacher come to understand that you are the REAL teacher
uni cubing (1 year ago)
Can you make video on accountancy you explain really well

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