The answers to the practice multiple-choice questions are below. Just click on "Read more". 1. B 2. E 3. C Need more practice? Get the Ultimate Review Packet. It's FREE to start. Step 1: Go to: www.ultimatereviewpacket.com/courses/macro Step 2: Create a free account Step 3: Enroll in the free version of the Macroeconomics packet
Can aggregate demand ever shift in the long run? For example, if SRAS shifts left, will AD shift right eventually, or do SRAS shifts have to be dealt with fiscal/monetary policies?
I have absolutely nothing but adoration for the salt and pepper beard!! Bloody hell, you look like a proper gentleman with it . You should've grown your hair out, though. (You did somewhat resemble Niall Horan (or perhaps Lord Edmund Blackadder) when you grew your hair out.)
This makes so much sense - thank you! but what happens if SRAS is the first curve to shift due to a change in the costs of production (eg: oil price goes up). Does AD automatically adjust too?
@@shammaalali352 if economists and politicians perfently time policy changes then there will never be a recession or inflationary gap and therefore no changes to emplyment or prices in the short and long run. AD or AS will never shift
No, because in this case it is the AD that shifts left, not AS. If AS shifts left, AD only increases. If AS shifts left, yes it would indeed cause PL and resource costs to go up, however the question is referring to an output gap (leftward shift of AD).
It was from a different lesson, I believe from the 2nd part, we are in the 3rd now. And It was Demand and Supply Or inflation, I don't remember that exactly. And It has been there for a long time now :)
It's about the law of demand and marginal diminishing utility, in which episode Mr. Clifford explained the law of demand while finishing that jug of milk (trying to illustrate how the first few sips of the milk are refreshing and then the satisfaction decreases and it becomes quite painful LOL). It's also interesting to know that for the law of supply, Mr. Clifford used the idea of diary farmers because the suppliers of milk are dairy farmers!
The answers to the practice multiple-choice questions are below. Just click on "Read more".
1. B
2. E
3. C
Need more practice? Get the Ultimate Review Packet. It's FREE to start.
Step 1: Go to: www.ultimatereviewpacket.com/courses/macro
Step 2: Create a free account
Step 3: Enroll in the free version of the Macroeconomics packet
the big man
Can aggregate demand ever shift in the long run? For example, if SRAS shifts left, will AD shift right eventually, or do SRAS shifts have to be dealt with fiscal/monetary policies?
I recently graduated from university - majoring in economics. I still watch your videos to keep my brain up to date hahaha
W
I love you Mr. Clifford 😍
Agreed🗣️🗣️🗣️
Let's get this comment voted!
u r the goat
Yessssir
My internet economics teacher. You've saved my benchmark!
based
i appreciate your videos it helps a lot with my econ tests
You are the best sir .
I have absolutely nothing but adoration for the salt and pepper beard!! Bloody hell, you look like a proper gentleman with it . You should've grown your hair out, though. (You did somewhat resemble Niall Horan (or perhaps Lord Edmund Blackadder) when you grew your hair out.)
The beard looks great on you Mr. Clifford!
Explanations to the pop quiz answers would be nice.
My class has decided you should keep the beard. Go Grenadiers!
Thank you sir!
our goat
This makes so much sense - thank you! but what happens if SRAS is the first curve to shift due to a change in the costs of production (eg: oil price goes up). Does AD automatically adjust too?
great stuff!
Keep the Beard!
keep the beard dude 🤙🏼
This is epic.
that milk has been there for a while ;)
can someone explain the answer to question 1, thanks
Me 2
@@shammaalali352 if economists and politicians perfently time policy changes then there will never be a recession or inflationary gap and therefore no changes to emplyment or prices in the short and long run. AD or AS will never shift
@@007Turbine thank u～
For the third question, doesnt a leftward shift of AS cause a negative output gap as well, which increases PL and resource costs?
No, because in this case it is the AD that shifts left, not AS. If AS shifts left, AD only increases. If AS shifts left, yes it would indeed cause PL and resource costs to go up, however the question is referring to an output gap (leftward shift of AD).
@@kool-aid8903 you are a genius my friend
Why 2.c is wrong? 4:46
❤
Neo classical view only? Where is Keynesian view?
fire beard
Options c
keep the beard. looks dope as heck
What is AC DC Econ sir ?
ACDC is an American Rock Band
Someone, please tell me the story behind the milk in the background.
It was from a different lesson, I believe from the 2nd part, we are in the 3rd now. And It was Demand and Supply Or inflation, I don't remember that exactly. And It has been there for a long time now :)
It's about the law of demand and marginal diminishing utility, in which episode Mr. Clifford explained the law of demand while finishing that jug of milk (trying to illustrate how the first few sips of the milk are refreshing and then the satisfaction decreases and it becomes quite painful LOL). It's also interesting to know that for the law of supply, Mr. Clifford used the idea of diary farmers because the suppliers of milk are dairy farmers!
ok
Is that real milk back there
When it comes to the long run, I mess up...!!!🙃🙃🙃
Keep the beard!!
Keep the beard fosho
I’m lost asf
nah
Sorry
I hate ap macro why the hell did I take this illogical subjective class
asluidhflciuhmaliuecmfliauerglvbuhlnaeiumxglyaeliruhfcmliaehcp thanks
keep the beard!
Your beard looks great! But you talk so fast, a little bit slower would be great.
slow down the video with settings maybe ? :)
I wouldn't want him to talk slower, his talking speed is perfect for me because if he was any slower I would lose focus.
Mostly I watch his lectures on 2x🌝
keep the beard!