Still commenting on old videos to comment, that's a legend move. This video was amazing btw! I have my test tomorrow and I'll tell you if I think I aced it.
Ur summaries helped me so much in the microeconomics exam a few days ago and now ur macroeconomics summaries are gonna save me for the test tomorrow :)
waww thank you so much sir, really learnt a lot from your video. Have been able to understand all the concepts and to easily memorize some key facts and formulas. Gracias mi maestro.
Hey ReviewEcon if I watch the 6 review videos and do a couple of past papers am I on track for a 5? Also if there are any of your videos you recommend other than the 6 review videos please let me know. Thank you so much (My test is on Friday).
It's hard to say. These videos cover the majority of topics and therefore questions that have appeared on previous exams. But... Watching isn't enough. You will need to understand and be able to apply this information to new ideas and questions. The College Board always throws some curve balls and you will do well on them if you really understand the topics. The math video and graph video may also be helpful. Make sure you know how to draw and manipulate all the graphs. I would also do MC practice in addition to FRQ practice. Good luck!
This is a different way of calculating GDP called the value added approach. Might want to watch it again to fully understand. But it only counts the value added by domestic firms. It is counting the final good, but subtracting the value of the imported portions. I hope that helps!
@@ReviewEcon Ohhhh, I didn't realize you said the fabric is imported, that makes much more sense. So the domestic firms added $7 dollars to create the shirt and an extra $5 dollars to put a label on it, making a total of $12 dollars. Thank you so much.
@@ReviewEcon Could you also just take a shortcut and subtract the the imported good from the final good, rather than going through every change in the domestic firms?
If you are using the value added method, you follow the method shown there. If data is accurate all three methods of calculating GDP will give us the same number. What you are describing is more of the output expenditure approach which subtracts imports after adding all final products sold. I hope that helps!
How so? I see no error. Real GDP in this context is found by multiplying the quantities produced in the year (2020) by the prices in the base year (2010), then summing the total for all goods.
Please don't stop uploading your videos are amazing!
I'll keep working! Thank you for watching and the great feedback!
Thank you thank you. I was out for a couple days but I have a test tomorrow. One run through of your video and I think I’m set.
Awesome! Good luck on your exams!
Still commenting on old videos to comment, that's a legend move. This video was amazing btw! I have my test tomorrow and I'll tell you if I think I aced it.
Good luck tomorrow!! 🤘😎
Clean and informative video series, this is what I was looking for a while. Thanks for uploading qualified videos.
You're welcome!
Thanks for the video, you dont know how helpful these are for people taking this class.
You're very welcome! I am so glad my videos have helped!
Good luck on your exams!
This man is a legend
Thank you! 🤘😎😅
Cant tell how much these videos help me for my exam your videos just saved my life to understand economics
Awesome! Good luck on your exam!
You're a legend
You're too kind. Thank you!
Good luck with your studies!
short and straight to the point, thank you for the video
You're very welcome!!
I would like to know more of your teaching strategy in macroeconomics special on IS amd LM .
Unfortunately, IS-LM is not a topic covered in my curriculum. 😢
I appreciate you so much. You are a life saver
Thank you! Good luck!
It is a valuable video
Thank you! Good luck with your studies!
@ReviewEcon You are so welcome.
Your videos are super helpful! Thanks for helping me in my upcoming test!
You're welcome! Good luck with that exam!
Ur summaries helped me so much in the microeconomics exam a few days ago and now ur macroeconomics summaries are gonna save me for the test tomorrow :)
Awesome! Good luc!
You’re the Micheal Jordan of Economics 🐐
Thank you! Good luck on your exams!
9:49 '$30,00' could be corrected to '$3,000' if you would like to correct it.
If I upload a new version, I'll fix that.
Thank you!
Oh man you’re so awesome, thanks a lot teacher 😊
Thank you! You're very welcome too!
Good luck with your studies!
Fantastic and informative video! Thank you :D
You're very welcome!
niceeeee test tmr
Good luck on that test!
Damn u guys are wayyyyyyy ahead of us mines tmr 😊
waww thank you so much sir, really learnt a lot from your video. Have been able to understand all the concepts and to easily memorize some key facts and formulas. Gracias mi maestro.
Your very welcome!
Good luck with the rest of the course!
incredible thanks a lot
You're very welcome! Good luck with your studies!
Hey ReviewEcon if I watch the 6 review videos and do a couple of past papers am I on track for a 5? Also if there are any of your videos you recommend other than the 6 review videos please let me know. Thank you so much (My test is on Friday).
It's hard to say. These videos cover the majority of topics and therefore questions that have appeared on previous exams. But... Watching isn't enough. You will need to understand and be able to apply this information to new ideas and questions. The College Board always throws some curve balls and you will do well on them if you really understand the topics.
The math video and graph video may also be helpful. Make sure you know how to draw and manipulate all the graphs. I would also do MC practice in addition to FRQ practice.
Good luck!
Alright thank you so much!!@@ReviewEcon
You should keep on making these videos
But I'm finding it hard to get the booklet can you help
Please email me at reviewecon@gmail.com. Let me know what trouble you're having getting the booklet and I'll see if I can help.
2:27 why would gdp be = to $12, i thought it is always equal to the price of the final good
This is a different way of calculating GDP called the value added approach. Might want to watch it again to fully understand. But it only counts the value added by domestic firms. It is counting the final good, but subtracting the value of the imported portions.
I hope that helps!
@@ReviewEcon Ohhhh, I didn't realize you said the fabric is imported, that makes much more sense. So the domestic firms added $7 dollars to create the shirt and an extra $5 dollars to put a label on it, making a total of $12 dollars. Thank you so much.
@@ReviewEcon Could you also just take a shortcut and subtract the the imported good from the final good, rather than going through every change in the domestic firms?
If you are using the value added method, you follow the method shown there. If data is accurate all three methods of calculating GDP will give us the same number.
What you are describing is more of the output expenditure approach which subtracts imports after adding all final products sold.
I hope that helps!
Thank u
You're welcome!
why we cannot rely on one macroeconomic indicator to measure the
economic performance
Because no single indicator gives us the whole story. They all have blind spots no matter how good the data is.
Thanks again for your videos, they go great with class notes and the textbook. I appreciate the time you put in to making them keep rocking 👌🪐
You're very welcome! I'm glad they're helping!
Hey dude I think u messed up on the calculations for real gdp at the time 10:39
How so? I see no error.
Real GDP in this context is found by multiplying the quantities produced in the year (2020) by the prices in the base year (2010), then summing the total for all goods.
Be rocky!!!!!!