youre singlehandedly getting me through ap econ, man legit, my unit 5 and 6 test is tomorrow and im binge watching youre macro unit 5 and 6 videos at 12am
I don't know what I'd do without your videos tbh; They’ve been one of the sole reasons I've been able to keep a high A in my AP Macro class. Thank you for making Economics so much easier to understand!
Its funny that you use the metaphor of a box in the middle of the ocean because I use a similar metaphor but I say there is a top secret island in the middle of the Pacific Ocean where currencies are exchanged.
Question! Shouldn't it be the supply of dollars shift to the right since there is inflation in the US, and people want to by more foreign products because they look cheaper? And also in this situation, the demand for dollar should be decrease, because there is inflation and US product price level will increase, so foreigner will demand less?
Yes, if we have a higher price level (inflation) the supply of dollars will increase and the demand for dollars will decrease. I discuss that example at 10:52.
It's not just Price. It is the exchange rate, or the price of one currency in terms of another currency. When people buy currency, the price is the other currency. There are several other acceptable ways to label the Y axis. Use what your professor or teacher prefers.
My understanding is that is not enough. They want both currencies on the y axis. Comparison currency/market currency is the standard. So if it is the market for US dollars being compared to Japanese Yen, ¥/$ would be the label.
@@ReviewEcon Oh sorry I should have clarified. Like my label for the y axis would still be pesos per $, but like I would say for each point, e1 and e2?
![พบรัก - INK WARUNTORN x FELLOW FELLOW [LIVE SESSION]](http://i.ytimg.com/vi/1VonHhP6_Y8/mqdefault.jpg)
Underrated channel, deserves a million subs. This guy explains so clearly and slowly and makes everything seem easy. Thank you so much.
You're too kind! The subs are coming slowly. Some day!
You're very welcome! Good luck with your studies!
I cannot believe there is only 6 comments! He's explanation is awesome.
Thank you! Good luck on your exams!!
youre singlehandedly getting me through ap econ, man
legit, my unit 5 and 6 test is tomorrow and im binge watching youre macro unit 5 and 6 videos at 12am
Good luck on your test! You got this!
@@ReviewEcon thank you!
I don't know what I'd do without your videos tbh; They’ve been one of the sole reasons I've been able to keep a high A in my AP Macro class. Thank you for making Economics so much easier to understand!
You're very welcome!
I wish you the very best of luck with this year's exams!
your explanation is super easy to understand! i missed this day of class and have a test tmr. thanks a bunches!
You're very welcome! Good luck on that test!
beautiful tysm
TYSMMM
You're very welcome!
Its funny that you use the metaphor of a box in the middle of the ocean because I use a similar metaphor but I say there is a top secret island in the middle of the Pacific Ocean where currencies are exchanged.
That's perfect!
It keeps kids from thinking we're talking about the supply and demand of money or the domestic value of money.
Would price level as a shifter shift both the supply and demand curves then?
Yes, but you only need to shift one curve on the AP exam. They will accept either shift, or will tell you which curve to shift.
Just awesome
Than you 😊
You're very welcome! Good luck on your exams!
Omg, seven hours ago, how do you know I am going to have a test on this tomorrow
Question!
Shouldn't it be the supply of dollars shift to the right since there is inflation in the US, and people want to by more foreign products because they look cheaper? And also in this situation, the demand for dollar should be decrease, because there is inflation and US product price level will increase, so foreigner will demand less?
Yes, if we have a higher price level (inflation) the supply of dollars will increase and the demand for dollars will decrease. I discuss that example at 10:52.
Good luck on your test tomorrow!!
What is the label for the y axis? Why is it price?
It's not just Price. It is the exchange rate, or the price of one currency in terms of another currency.
When people buy currency, the price is the other currency.
There are several other acceptable ways to label the Y axis. Use what your professor or teacher prefers.
@@ReviewEcon Ohh okay. If I labeled it as "e", would that be acceptable to Collegeboard?
My understanding is that is not enough. They want both currencies on the y axis. Comparison currency/market currency is the standard. So if it is the market for US dollars being compared to Japanese Yen, ¥/$ would be the label.
@@ReviewEcon Oh sorry I should have clarified. Like my label for the y axis would still be pesos per $, but like I would say for each point, e1 and e2?
Oh! Gotcha, yes e is acceptable. 😄