Your ability to explain these concepts BLOWS my mind. I have an Economics exam (which is NOT my thing) is tomorrow and these reviews are super helpful. Thanks!
Very helpful! Thanks, read five pages on this between 7am-11am this evening and didn't gather any of that as clearly as I did after watching this 7-minute video. I really appreciate Abdukadir MPA student at University of Nairobi in Kenya
This was great. I read about GNI and GDP and I was confused until I got to this video. Very clear and simply explained. Thank you for explaining this so simply and clearly.
2 days before my AP exam..... this was a life saver!!! Thank you so much... I feel like I'll remember these terms my whole life now because you explained it so well!!!
Why are we not Funding this man!!!!! I am currently taking his Micro Economic course on Udemy .. I would have never thought in my life time I would understand Economics!! Now I can read just a tad bit better economic news with a better (but still learning) understanding. You have my thanks sir.
Hey Jaseena84! Thank you so much! If you are interested, check out my website, www.bradcartwright.com. For US$9.95 a month you can get access to over 400 IB Economics videos and over 1,000 downloadable documents--Slides, Vocabulary Terms, Practice Questions, etc.
Very helpful! Thanks, read five pages on this between 5am-6am this morning and didn't gather any of that as clearly as I did after watching this 7-minute video. Also you voice {>
That is awesome! Thank you for taking the time to leave a comment. Check out the rest of the videos covering Macroeconomics. They are laid out in easy to follow playlists. Make sure to subscribe to the channel as I will be adding many new videos in the coming weeks. Take care and good luck in your studies!
Great explanation! Thanks alot, this was very helpful and brief. I wish you were my teacher as well. Wish you all the best. I hope this made your day as you made mine! Much love. xoxo
Gdp means the money that spent citizens living in the country +the money that foreigns spent +the money sent by citizens living outside of the country where gnp is the gdp +income earned from assets abroad minus income produced foreigns
Do we use GDP because if we used GNP we would find that actually the Cayman islands, Panama, and Barbados have the highest GNP out of all the countries?
Thanks! I have a final for Econ tommorow, and this is literally a prompt I can get. Idk how I'm going to write an entire essay on this, but the video helped nonetheless!
Hey Dmitrij! That's so cool! I'm glad you had a break through. Economics is like that--all of a sudden it just clicks! Keep watching and studying! Good luck and stay in touch.
wait wait wait...... my book say's "We calculate net national product (NNP) by taking GNP and then subtracting the value of how much physical capital is worn out, or reduced in value because of aging, over the course of a year. The process by which capital ages and loses value is called depreciation. We can further subdivide NNP into national income, which includes all income to businesses and individuals, and personal income, which includes only income to people." NOW i'm slightly confused... NNP= GNP-depreciation?.............. help I'm getting confusled
Can you explain how GDP is calculated through income and expenditure method? And it would have been clearer if u had mentioned the equation for GDP which is c +i+g+n
GDP includes Real GDP and Nominal GDP. Real GDP is the calculation of keeping prices constant using base year prices while multiplying the quantity while nominal GDP is the final output in terms of actual prices and output that year.
Hey! GNI is easy....check out this video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-zMoqqoxCvCE.html Good luck in your studies and stay in touch! Brad
Question? Like the Philippines who has OFW ( OVERSEAS FILIPINO WORKERS for example) this country has a large of OFW use as COMMODITY exchange of services to differentcountries, would you consider it as GNP? thank you! I'd appreciate your reply!
