GDP and the Circular Flow- Macro Topic 2.1

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  • Published on Sep 11, 2019
  • 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- tvclip.biz/video/mN5HPJYJzus/video.html
    Econmovies Cars Video- tvclip.biz/video/KZaB1U3k0j8/video.html

Comments • 28

  • Jacob Clifford
    Jacob Clifford  2 months ago +3

    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

    • Brian Gavarrete
      Brian Gavarrete Month ago

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

    • Andrew Furie
      Andrew Furie Month ago

      Jacob Clifford absolute savage

    • Jacob Clifford
      Jacob Clifford  2 months ago +11

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

    • Craig Sanders
      Craig Sanders 2 months ago +1

      Thanks for the video as usual. Can I request that you fix the typo in the Circular Flow Matrix? You spelled Government wrong and I hate showing videos or slides to my students with typos. So it needs to read Government and not Governmnet. Thanks.

  • Tharun Kumar
    Tharun Kumar Month ago

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

  • Jeff Bryant
    Jeff Bryant Month ago

    I find No answers to the questions

  • Kurt Gladfelter
    Kurt Gladfelter Month ago

    yes the Fed did cause the Great Depression, but the root was in the low interest rates of the 1920s not the tightening policies of the 1930s. Had they chosen to inject more money into the system it would've delayed the Depression but inflated the bubble even worse. The Depression was the cure for all the speculation and malinvestment of the 20's. Hoover and FDR should've let it run its course. The economy would've been rebuilt on a more solid foundation.

  • rocket
    rocket 2 months ago +1

    I really need you to cover supply and demand again

  • Tripurari Kumar Jha
    Tripurari Kumar Jha 2 months ago +2

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

    • Nandii Mhlongo
      Nandii Mhlongo Month ago

      So many South Africans use his videos as well🤣🤣

  • Midia x5
    Midia x5 2 months ago

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

    • Midia x5
      Midia x5 2 months ago

      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?

  • Virendra Chaudhary
    Virendra Chaudhary 2 months ago +3

    I like this video very much.

  • Information Processor
    Information Processor 2 months ago +4

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

  • Michael Pisciarino
    Michael Pisciarino 2 months ago +8

    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

  • Gianfranco Montesinos
    Gianfranco Montesinos 2 months ago +2

    Thanks Jacob, very cool

  • siddhartha jain
    siddhartha jain 2 months ago +1

    American businesses make their product outside America by cheap labor and domestic businesses try to make their products by hiring immigrants. All in all actual Americans are getting screwed in this due to low wage with very high cost of living.

  • Manav Sridharan
    Manav Sridharan 2 months ago +3

    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!

  • Andrew Beckstrom
    Andrew Beckstrom 2 months ago +4

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

  • Lawrence Gaceta
    Lawrence Gaceta 2 months ago +10

    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!

  • Honey Badger
    Honey Badger 2 months ago +1

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

  • Jessica B
    Jessica B 2 months ago +3

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

  • B M
    B M 2 months ago +1

    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!

  • Patroclo Sf
    Patroclo Sf 2 months ago

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