@BrianMaverickBlum To be more precise, the comment should have said "if prices were to decrease from 2011 to 2012, nominal GDP for 2012 would be less than real GDP for 2012." The explanation isn't as complicated as you are trying to make it- this comparison arises simply because nominal GDP would be using the lower 2012 prices in its calculation and real GDP would still be using the higher 2011 prices.
just started economics and have always had trouble with algebra and math..... Your videos are very good and are helping me a lot.. Thanks for making them!
I think it's good by this point to mention that NGDP is also aggregate demand, so you can relate it back to AD and SRAS and LRAS. That would make discussing inflation, supply shocks, and real and nominal demand shocks easier.
Do you have any videos or examples where you show a real or nominal GDP would be if we were already provided with the inflation or deflation rate over a year. (Awesome videos, please keep them up):)
I have seen a lot of negative comments, please don't take them as a negative energy because you are doing well. Please be positive and you looks great.
At 7:33, you have an on-screen message that reads, "(if prices were to decrease rather than increase, nominal GDP would be less than real GDP)." Could you explain this, please? Except in consideration of the higher demand that would result from the lower prices, I fail to understand why this might be the case. Thanks!
Thanks, Jodi - that makes more sense. I just thought perhaps there was something I was missing in my understanding of the concept - I'm glad there wasn't. ;)
I found a question where they provide total GDP, GdP PER HEAD of population , unemployment rate and gdp growth per head. And ask to find total population, and what would a gdp per person be if the workforce was a 55% of population.
Hi..I just wanted to say I love your approach..! Pleassss..keep explaining economy this way! Can you go a bit a higher level in explaining GDP. Like for exampe, having a real numbers from a real or imaginary country's budget and do math on it! That would help a lot
very helpful. i watched many vedio bt my doubt was not clear. after the watch this vedio my dobut has cleared . thanks. please upload more and more vedio.
seriously this is very helpful n i really don't care if she's selling herself or anything but yeah her lectures r good. In the end, i understand better :)
Question, how to make Perus nominal GDP increase fast to 1 trillion before 2050 and same goes with real GDP in how to increase to $90,000 per person before 2050.
Let's say: if you want to assess the growth of productivity of a certain country during a period of time - use PPP GDP figures, BUT if you want to compare current productivity of say two countries against each other - use nominal GDP figures. Any opinions?
Great video. You should smile more. It would fit the theme of your show, and maybe replace the background noise with soft music. Consider me subscribed, regardless!
Please explain to me how to do this formula. . .. it is actually given from the book. ... Real GNI = price index year÷price index current year × current GNI :) THANK YOU
In your example, nominal GDP > real GDP due to increases in prices and quantities. How about an example where nominal GDP > real GDP, even though output as measured by quantity has decreased for bread and butter, but prices have increased dramatically. or an example where nominal GDP > real GDP because of a dramatic increase in bread and butter, even though prices have slightly decreased.
ok, so i thought that the person was being mean about the logo.... now that i saw it... I cant concentrate on what she is saying anymore.... i just kept on wondering why would you want a logo that looks like a stripper..... unless u are promoting sex.... and not Econ... maybe that's what she is going for... econ is sexy? or sex sells, a very important part of economy?.... hmm moving on to a different tutor..
It is relevant, because she is "selling" a product, and I as a consumer can decide on MY opportunity cost, whether to use it or not. And her logo is too distracting to me and not conducive to MY learning process. I am just voicing out what I saw, you by all means use her video if that is what YOU want, I won't stop you otherwise. And no it wasn't clear to me.
Someone definitely needs a hug... or maybe a sour investor of the sexy econ class? And you, random dude, are a child that knows nothing about economics. I really hope that you don't vote since your opinions are based on pure emotions and devoid of intelligence.
You think anybody cares about the fact that you're distracted by her shirt? Or that anybody believes you that you didn't know she was just being witty? Since you seemed to think my earlier comment was all about knowledge on econ and you thought you should talk about my inferiority and lack of political integrity, it proves further what angered me in the first place, which is that you're speaking only in terms of things you've read in a book, and that you have no perspective on the real world. The closest you come to an opinion is talking about opportunity cost of watching a video(nice try relating that to econ). I'm glad that I skip econ class all the time and that I won't be going further into the field of it because if your amazing, superior understanding of it has played any part in making you the miserable, self-righteous cunt you are today, then I don't even want to write my final.
I was annoyed that you felt the need to talk about opportunity cost of being "distracted" by her shirt which was clearly meant to be funny and you just ruined the half decent humour.
