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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 (307)
Yessica Smith (9 months 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!!
Rizz (4 months ago)
^ link is in the description, my dude. http://www.acdcecon.com/review-packet
bad habit Mgwali (4 months ago)
How do you get this ultimate review pack I have been tryin it but i dont get it
Rizz (5 months ago)
Just spend the $12, it really is worth Mr. Cliffords effort.
Daib Hussein (5 months ago)
Jess Smith could you plz share with me.i need but having problem my paypal..my email [email protected]
NIHAL ANWAR (8 months ago)
yo I juset got the ultimate package too the opportunity cost was my dignity
mitsuid_dave dingle (9 hours ago)
national income is not yet the gdp right? so what is the formula for gdp using income approach?
mitsuid_dave dingle (9 hours 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 (2 days ago)
Where do you get the energy???
Oglala Gags (11 days ago)
thank you very much, Mr Clifford! BTW you are thinner and more handsome now than you are in 2011 videos!
Tabitha Lloyd (20 days ago)
Was that 30 break chreographed?
andy chang (1 month 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 (1 month ago)
Michael Provost (1 month ago)
He looks haggard
Syamilah (2 months ago)
Cpi 15:41
Ethan Pongracz (2 months ago)
"if you're not using this video to cram for a test" me: yes, yes i am
Shubhashree Khilar (2 months ago)
Thank you very much sir for clarify the basic concept....and ur teaching style is really awesome...
Jokage (2 months ago)
"YOU GOT REPLACED" DANG Mr. C you calling out and beefing with the lumberjacks
Ms. Chocolatey (2 months ago)
Fusion (2 months ago)
You're amazing at this! Thanks for the help :D
Andrea Tanio (2 months ago)
you talk tooo fast
Walsh World (2 months ago)
Your the best man, you and JOCZ made AP Econ and apush absolute jokes and easy As
Trying to learn (3 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 (3 months ago)
What you do is amazing!Thank you so much!
vanessa chen (3 months ago)
your video always give me a big help, I will buy your Ultimate package.
Alec (3 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 (3 months ago)
Thanks sir
Erin Siqueira (3 months ago)
saved me
Samvit Agarwal (4 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 (4 months ago)
How can I get this review packet?
Mel C. (4 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 (4 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.
Hillary Derksen (4 months ago)
I wish I found your videos before the day of my final.. you actually make the mess make sense! Thanks for posting these!
Taewon Chung (5 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 (5 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 (5 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?
السلام عليكم (7 months ago)
Speaking too fast like those late night tv commercials selling you stuff u will never use. Content is good but delivery ....
Jan Letsoalo (7 months 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 (7 months ago)
Can you add a video on new keynesianism?
Tony Hoàng Long (29 days 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 (7 months ago)
What is the different between deflator and deflation? Are they the same??
jamacale laam (7 months ago)
This is amazing .Keep it up
Reed Harvey (7 months ago)
Thank you so much!!!! U are seriously the greatest teacher on earth! U are helping me sooooooooo much!!
SCHRODINGER’S CAT (7 months ago)
this is just great.so glad when I find channels like these
shonel jonathan (7 months ago)
Thank you MR. Jacob for these amazing videos and movies it really changed my lifestyle
Jock Mitchell (8 months ago)
You knocked over my economics teacher in the mosh pit of an ACDC concert so i dont like u very much
Nafura (8 months ago)
So will there be a time in the future where, say, a water bottle might cost $50?
TheKillingBeast (8 months ago)
using this the day before my theme 2 exam lol
dylan park (8 months ago)
Sirus Fischbacher (8 months 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 ! (8 months ago)
where my 5 squad at?
amazia the guy (8 months ago)
AP in 2 days!!! Thx for the help :)
Kangmin Kim (8 months 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 (8 months ago)
If I pass this final. I stg I’ll find u and thank you in person
ken Ng (8 months 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 (8 months ago)
I have my finals tomorrow and your videos have been of maximum help! Thank you Jacob Clifford!
Glenn Watson (8 months 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 (8 months ago)
Can you please do a user cost and RAB? If Facebook should charge user cost or we charge Facebook¿
Mosa Fahim (8 months ago)
just awsome ...........
Karim El Baba (8 months ago)
Really, this is amazing! Love it
Hayley Vella (8 months 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 (9 months ago)
Why do I learn more here than in 3hrs lectures?!
Zayn Zazo (9 months ago)
(At 19.05) it should be 25% not 20%
Lu Zhang (9 months 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.
Kayden Pascual (9 months 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 (10 months ago)
thank you sir...
Matthew Avis (10 months ago)
Struggling in macro? BUY. THE. ULTIMATE. GUIDE. You will thank me later.
Avi Gupta (10 months 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 (10 months ago)
Can you make video on accountancy you explain really well
Alexander Miller III (10 months ago)
thanks bro
Drew Guyor (11 months ago)
Thank you 🙏🏼
RedstoneMiner66756 (11 months ago)
Very helpful!
Teri White (11 months ago)
where is 2.4 in macro?
Zina Hijjawee (1 year ago)
god blesss you Mr. Clifford, i swear :D :D :D
Alex (1 year ago)
son flower (1 year ago)
Couldn’t download study guide
Yasitha Seneviratne (1 year ago)
My mom walked in exactly when the bonus round started😒
Aklilu Mathewos (1 year ago)
a good video
Mario DeMarco (1 year ago)
You're a good father. Love the intermission show. Cheers from Canada.
Matt Desrosiers (1 year ago)
oh come off it that wasnt that violent! (just kidding not trying to offend anyone, or tell them how to parent)
Junjuan He (1 year ago)
I just bought my first review packet and big thanks Jacob for your hard working!
Matthew Johnson (1 year ago)
these videos helped me get through Macro and micro Econ! very helpful and this guy is great not boring but not over the top
helen (1 year ago)
I love you Mr. Clifford. <3
Feynstein 100 (1 year ago)
I already knew most of this, thanks to CrashCourse Economics (I've watched the entire series twice). What I'm particularly interested in is GDP. I'm from Nepal, which has a GDP per capita of around 2400 USD (2014 estimate). And so I want to know what could be done to boost that figure significantly higher. What I'm looking for is a video about the comparative analysis of the GDPs of various countries, with their respective elements and explanations of why they are that way. If anyone knows of a video like that, kindly point me to it. And Mr Clifford, if you read this, I'm hoping you could make a video on it.
BEST CHANNEL ONE (1 year ago)
These videos are very helpful
Riya Mahajan (1 year ago)
I bought the Ultimate Review packet but I cant access the videos anymore. A semester has passed and I would really like it if you would reply back to my email so I can gain access again.
Najum Sahar (1 year ago)
These are really helpful. I appreciate.I want you to make video on *National income statictics* Please. Syllabus for A-levels.
Lindokuhle Tshongolo (1 year ago)
Hahaha if you don't want to cram for the test.. that got me..
daniel j (1 year ago)
Jesus Christ loves everyone.Please repent and believe that He is the Son of God and you will get to heaven.God bless us all : )
Afiq Azmi (1 year ago)
Short and simple. Very useful for revising econs and thanks for sharing your knowledge.
vghh cvv (1 year ago)
Uncle u should first teach concepts then advertise ur reveiw paper for practice because first we understand then only we will do practice
촌장띤또 (1 year ago)
Thx so much! 감사합니다 :)
BostonFan805 (1 year ago)
Thank you ;)
Patrick Marnell (1 year ago)
They are helpful, although you need to slow your speech down..
Feynstein 100 (1 year ago)
My pleasure :)
Patrick Marnell (1 year ago)
Thank you..
Feynstein 100 (1 year ago)
Played at 0.75x speed, was cool ;)
Jasmine Suero (1 year ago)
you're the greatest
Jordan Gonzales (1 year ago)
Wish I could thank this man in person. The main reason I'm passing me econ classes if because of him
Feynstein 100 (1 year ago)
You can. If you buy the packet, that is like giving him a personal thank you note. With the face of an influential person on the paper :P
Andrée-Anne Aubin T. (1 year ago)
Clear, informative and interesting. Thanks!
Zeno's grasshopper (1 year ago)
Loved the 30-second break with your sons playing in the front yard. Made me chuckle at the end :-)
Peng Fu (1 year ago)
One question: Does this guy really know economics (is a lecture ish) or just an actor?
Peng Fu (1 year ago)
Well cool teacher-actor man. Your videos are awesome. helped me heaps. Cheers:)
Jacob Clifford (1 year ago)
I'm flattered that you would think that I'm a paid actor. I didn't think I was handsome enough. I'm an actual teacher.
Peng Fu (1 year ago)
lecturer *
rn sezuni (1 year ago)
woow, thank you . this is well explained
Hernan Zavala (1 year ago)
Extremely!!!!!!! helpfulll!
C Tee (1 year ago)
Deepa Kadakam (1 year ago)
please tell slowly
Akshit Vashishth (1 year ago)
Isn't there a third way to calculate GDP which is something called as the Value Added approach ?
Mohamed Farah Mohamed (1 year ago)
sir how can i get A REVIEW PACKET
you make it look simple but on a test or an exam its something else

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