GDP and the Circular Flow- Macro Topic 2.1

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In this episode I explain the Gross Domestic Product (GDP), the three ways it is calculated, and connect it to the financial sector. I also explain how George Washington's death is similar to the Great Depression. Weird huh? Thanks for watching.
The answers to the multiple-choice questions are below:
1. A
2. C
3. D
4. C
How to download the Circular Flow and GDP Practice Sheet
Step 1: Go to: acdcecon.thinkific.com
Step 2: Create a free account
Step 3: Enroll in the free version of the MACROeconomics packet (either AP or College)
Step 4: Go to Unit 2- "Circular Flow and GDP Practice Sheet (with answers)"
Step 5: Download the PDF, fill it out, and check your answers
Note Teachers- Do not print the practice sheet and give it to your students. This is NOT for in-class use. If you are interested in getting worksheets for your class, please go to my website: www.acdcecon.com/bulk-discount
Circular Flow Video- • Circular Flow Matrix- ...
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8 июл 2024

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Комментарии : 199

@JacobAClifford 4 года назад

The answers to the practice multiple-choice questions are below. Just click on "Read more". 1. A 2. C 3. D 4. C How to download the Circular Flow and GDP Practice Sheet Step 1: Go to: acdcecon.thinkific.com Step 2: Create a free account Step 3: Enroll in the free version of the MACROeconomics packet (either AP or College) Step 4: Go to Unit 2- "Circular Flow and GDP Practice Sheet (with answers)" Step 5: Download the PDF, fill it out, and check your answers *Note* Teachers- Do not print the practice sheet and give it to your students. This is NOT for in-class use. If you are interested in getting worksheets for your class, please go to my website: www.acdcecon.com/bulk-discount

@JacobAClifford 4 года назад

@@craigsanders7893 I'm sorry thaat there was a mistak. I cant fix it now, but im sure you're students can forigive me

@andrewfurie7629 4 года назад

Jacob Clifford absolute savage

@jellyboi999 4 года назад

I see what you did there. Very clever. Also I got 4 out of 4 first try. Thanks for all your help you legend

@jonathanlee6660 4 года назад

love how the answer is ACDC

@shifterv2912 3 года назад

Thank you so much for posting the answers. Saved me 4 points

@shanyabowen8408 4 года назад

SOMEBODY GIVE THIS MAN A SCHOOL!

@user-qf5nq3cs9x 3 года назад

he is a teacher already

@thisisyoutubetv3235 Год назад

@@user-qf5nq3cs9x A whole School...

@catherinecocuo483 Год назад

He doesn’t need to work for or with a school,,,, he is an entrepreneur already 😅

@Papermarioenjoyersince2001 2 месяца назад

Yes but we need *him*@@catherinecocuo483

@lawrencegaceta4839 4 года назад

Thank you for the refresher! I am truly 1% smarter than yesterday after watching your video. Your macro-econ segment should be a must-watch video for all U.S. policymaking individuals and those who want a creative bare-bones approach to grasping GDP / Circular flow concepts. Keep cranking!

@michaelpisciarino5348 4 года назад

0:13 A Doctor in 1799 (A Presidental Loss) 6:48 The Great Depression, The Federal Reserve decreased the money supply 0:27 An Economist in 1929 (The Great Depression) 0:54 GDP, Gross Domestic Product 1:30 Measured in Dollars 1:52 Produced within the company, by a US company or a Foreign Company 2:09 Three Approaches to calculate GDP The Expenditures Approach (The Purchases focused approach) 2:23 C + Ig + G + Xn 4:37 A Ridiculous Situation 5:08 What Does NOT Count In GDP 5:47 The Circular Flow Model 6:16 The Approches are illustrated by The Circular Flow Model

@economicsteachers8112 4 года назад

Super helpful

@yahyamotara7590 3 года назад

Tysm

@xampaguitas 3 года назад

I have a test tomorrow and I needed resources to help me expand my knowledge about these topics. I am truly grateful for this marvelous video!! :))

@v.xien. Год назад

I can only learn from this guy, he's the best econ teacher and actually makes sense

@manavsridharan3811 4 года назад

I'm done with econ and I passed Micro and Macro(much thanks to you) but I still keep coming back to these. Great stuff!

@thonkbaguette8452 4 года назад

samee

@charlesjesseniah6886 3 года назад

same here chuckles i guess i missed the great teacher. lol

@beanscornbread1381 4 года назад

This brings me back to my college days using this channels videos to study. Very nice stroll down memory lane!

@thekid3376 Год назад

shut up dummy

@Meohmy96 4 года назад

AC/DC is the answer and it’s in the background lol I see what you did there

@jmg9509 4 года назад

Mr. Clifford thinks he's sly with those answers xD

@gplol284 4 года назад

Thanks a lot for the amazing video!! It helped me a lot!! I didn't understand it when my econ teacher explained it, but with your video I completely understood everything!! Thank you!

@alexisjones9267 2 года назад

Thank you very much! I really appreciate how you connected it to the depression and the lifeblood of the economy. It helps me understand what GDP really means

@louiseradovanski4287 3 года назад

Your videos are awesome. I'm studying for my CPA exam, BEC, thank you very much!

@informationprocessor 4 года назад

Very happy with your video. I got a 4 on both the AP tests.

@jessicab3986 4 года назад

Love the new set! Thanks for all the videos. I could not have done Econ without you!

@thekid3376 Год назад

shut up

@iwannasleep8939 3 года назад

his hair went from black to grey- thank you for teaching econs all these year, your videos are super helpful!

@Tiberius_Gracchus 4 года назад

So i go to one of the top MBA programs in the US and this guy taught me better in 10mins than my professor did with a chapter reading + 3 hour lecture....WONDERFUL. But seriously - good job Mr Clifford!

@vennelajilla717 3 года назад

when i said "not you, you understand economics" at 0:46 i wanted to cry-

@amberroberts6875 2 года назад

You just put this on here for free? Wow. Thank you so much.

@arlo5407 4 года назад

I want the app back!!!! thanks for this great explanation

@pavitaataya8682 3 года назад

you make this lesson understandable, thank u!

@JJ-fm9fj 4 года назад

Thank you so very much Mister Clifford! Your content is very helpful and unique in whole internet. It has helped me a lot. Thank you so very much Sir, I really do appreciate you and your job! Getting ready to get into HKS and looking forward to meet you one day!

@user-wz2jz5kh9s 4 месяца назад

Sirr idk how to thank u but im just speechless god bless u i used to know nth thanks to u after i joined eco department ubhelped me alot❤❤❤❤❤

@holyrivals7191 2 года назад

Your are an absolute blessing. Ac/dc rules, bill murray rules, you rule…. Macro, not so much, oh crap it does…A necessity for macro class! Thank you. Subscribe right now if your taking a class, you’ll be back.

@bookcaseborsum2184 3 года назад

There are 31 people who aren't trying hard enough to appreciate this guy

@virendrachaudhary5832 4 года назад

I like this video very much.

@15.irwansubhanazuari17 3 года назад

i love ur presentation, thanks for the video

@tharunkumar1774 4 года назад

Thank u very much sir for lectures provided by u very much interesting u r lectures

@joannemagat6040 4 года назад

This just about summoned up my first lecture for macro, thank you so much!!

@iivvyy1127 4 года назад

FACTS!!! my exam is tomorrow and I'm so nervous!

@joannemagat6040 4 года назад

@@iivvyy1127 Best of luck!!!! Hope you do great!!

@iivvyy1127 4 года назад

Joanne Magat I just took it and it was hard af😭

@OmariTube 8 месяцев назад

Youre the best sir. I am learning a lot on here

@olayinkaahmed1320 Год назад

have been following your page and its been really helping and mind blowing 🥰🥰🥰🥰

@denden8326 2 года назад

thank you Jacob. very information

@masikozwide2626 5 месяцев назад

i love your energy, good videos.

@Pk_kian 10 месяцев назад

My favorite lovely teacher

@lyandradewasurendra472 3 года назад

it really helped me

@sydharani3408 4 месяца назад

Thank you so much sir ❤

@sionmeshu8790 3 года назад

Thank u soooo much for the questions!!! They helped me for my exams. I am grade 11 student and your classes are much better than my school course. Keep going!!

@gianfrancoAA 4 года назад

Thanks Jacob, very cool

@mohdashraff2150 2 года назад

This man is my hero

@Andrea-es5te 3 года назад

i simply love you

@daviafrater-hylton3788 4 года назад

4:42-4:54 tho🤣🤣🤣🤣 very helpful video tho & not as boring. Good job 👏

@Ahmed_salemk 2 года назад

@jacob you did an awesome job! I'm doing my master and that was totally helpful. It would be greater if there was translation.

@brettdobson3122 3 года назад

How important is the income approach or the value-added approach on the AP Macro exam? On the old exam, I never really taught those approaches.

@angeltenorio6845 3 года назад

Jajajaja AC/DC answer key? This guys really loves this band 🤣

@ilong4rennes 4 года назад

wow this video saves me!!!!!!!!!!!!!!!!!!!! thx a llot!!

@humphet 2 года назад

I love the "you're gonna get that kid in class"

@KoloSokame 3 года назад

LOVE YOU MR. CLIFFORD

@FarhadADeven 4 года назад

thank you sir

@shreyakommuri3929 3 года назад

Thank you! Also I love you.

@rocketeditor 4 года назад

I really need you to cover supply and demand again

@karterkarter5853 2 года назад

Hi good day, i did okay for the multiple choice but I don't understand how you got (a) for #1. Can you explain please?

@elizabethmills1286 3 года назад

'I have also already watched the Circular Flow or the Matrix of the Circular Flow video

@salman.salu11 2 года назад

Wow man thank you

@Jordinkiryu Год назад

when you put up the circular flow my brain had the exact thought as the sound effects LMAO

@LISA.WANG. 2 года назад

4:41 lol this is me in my head 😂 Thank you for the wonderfully presented info! Filled my brain and lifted my spirits

@beautifulzi0n 9 месяцев назад

Writing my finals and on his channel to learn I need to know

@MysteryHistery 4 года назад

I can't believe he only have 403k subs. Americans and British don't like studying it seems.

@nandii1969 4 года назад

So many South Africans use his videos as well🤣🤣

@webb5066 3 года назад

indians do as well

@redshiftmedia2485 4 года назад

Love your videos. What are your thoughts on GDP? Do you feel like it's adequate to measure the economy, or what other measurements do you think are best?

@abhalla 3 года назад

also curious about this

@oscarwang6873 3 года назад

Mr. Clifford: you understand economics Me: Do I? oh yeah, this is econ so, (confidently) yes😎

@k189644 3 года назад

This video saved my hhmmm for my test tomorrow.. our class is studying makiw principles of economics edition 7 and it literally is no help with calculating anything or giving examples.

@danni5287 Год назад

how are households also the suppliers? thank you for your videos by the way..

@bakokaka9165 3 месяца назад

Great content. I learn and enjoy your videos. One suggestion is, it would be easier to understand you if you speak slower. On a few occasions, I had to slow down the video (Playback Speed) to be able to understand everything. Thanks and nice work.

@EstherEgede 2 года назад

I understand the main rule but what happens when I save my income as opposed to spending, that should at least cause some disparity in the equality between the income and expenditure approach?

@damianjez4336 3 года назад

So how does the economy distinguish the intermediate good from the final product? What if I go to the grocery store and buy a tomato without telling anyone that I actually intend on using this to make a pizza and sell it?

@steezoarmani8971 Год назад

This man should replace my economics lecturer asap

@ronaldk.sitlhou2914 3 года назад

So does it mean that buying Second hand/pre-owned goods doesn't count as GDP?

@idushathamel 3 года назад

why do we consider a business cycle expansion to be different from economic growth?

@darshpatel8150 4 года назад

Loved the video but out of curiosity, why do you have milk on your shelf 2:37 ???

@daviddorough2039 3 года назад

This video should explain: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-LwLh6ax0zTE.html

@vitorinorocha6027 4 года назад

Nice

@kristinahaag8107 4 года назад

Hello, I am confused about consumer behaviour chapter. Is there any video about it? Please let me know.

@kristinahaag8107 4 года назад

your videos are very helpful for me. I am studying Microeconomics global edition (ninth edition ). Do you cover chapters 3, 4, 6, 7, 8, 9 or 10 from this book?

@mkpozsgay3248 3 года назад

Is the free trial just for teachers?

@TiltEV 4 года назад

Ahhh those answers Cheeky ;)

@diadhariwal2604 3 года назад

After getting A, C, D, I knew there was no way the answer wouldn't be c, very predictably sly.

@katertot06 Год назад

Wait I'm confused! If we are not counting intermediate goods, then why does the added value from the yarn matter?

@Goofy_Geek Год назад

i had that exact mater toy :)

@rennyzero420 2 года назад

Silver bullion will be needed for future of GDP.

@isaaclukwanga8489 3 года назад

Suppose that the following activities occur in a given year: A copper mining company pays its workers K400, 000 to mine 150 tonnes of copper. This copper is then sold to a jewellery manufacturer for K500, 000. The jewellery manufacturer pays its workers K450, 000 to make copper necklaces, which the manufacturer sells directly to consumers for K1, 500,000. Calculate GDP using the three ways of calculating GDP

@eminkilicaslan8945 2 года назад

Ngl I find it easier to give up a spoonful of my blood than go grab food coloring.

@andrewbeckstrom2638 4 года назад

For some reason I am not seeing the answers in the comments?

@JacobAClifford 4 года назад

No problem. I added it above

@dekananwertofiqhamasalih7613 2 года назад

Our teacher requires us a rapport about Macroeconomic so I need a help to prepare it☹️please help me

@haneen7113 3 года назад

gross domestic product معناها:اجمالي الناتج المحلي

@aryamantaparia5439 4 года назад

Is depreciation included in GDP?

@Bob-eh4yg 4 года назад

@ProfRoofs 3 года назад

Answers are on the wall

@johnsondunkerson3100 3 года назад

i have a 54 in macro

@adrianarteagas4816 Год назад

1.a 2.c 3.d 4.c 9:05

@sahiladvani3746 3 года назад

notice how the mcq answers are acdc

@yahyamotara7590 3 года назад

"CACTI"

@milliemillie4276 3 года назад

Woooow!!!

@francescacolby6513 4 года назад

How is number 1 A

@Ralley1231 4 года назад

GDP = C + I + G + (X - M)

@obliterator1543 3 года назад

I think maybe you ignore depreciation

@poetrysessionswithkamo3374 2 года назад

does anybody how to access the free account

@peterhorner1354 Год назад

Bless

@elizabethmills1286 3 года назад

Why does goods from years past not count in the GDP?

@luiegiii 3 года назад

You may already have had this question answered so hopefully this helps anyone else with the same question. By definition GDP measures the current year's production. If you want to know the past production you would look at that data. Remember GDP is the measure of all FINAL goods and services. When you look at the past those are products that have already been produced and sold. If it is not sold and recirculated then it does not yet factor into the GDP. When the final good or service produces income that is spent on the "economy" then it is factored into the GDP. This is a more simplified explanation but hopefully it helps!

@elizabethmills1286 3 года назад

Thank you that wasn’t even a question on my homework or tests we just had to know the definition I was just curious

@17shi52 4 года назад

wow

@taylork8857 2 года назад

3:40 TRAVIS SCOTT marketing his seltzer

@elizabethmills1286 3 года назад

"Cacti!" lol!

@diabolicalironclad7 3 года назад

Lol

@Alexanderbuilds2001 4 года назад

I don’t understand the circular flow I’m scared for tomorrow 😫

@DKDRFTA 3 года назад

Where do we put recycling? Rare earth materials. Plastics, glass, magnets, copper, steel, aluminum ect. Most of it goes in the landfill. I see a world where are future generations are mining landfills for finite materials. We should be taking recycling more seriously. It products we can use to increase are domestic production