The answers to the practice multiple-choice questions are below. Just click on "Read more". 1. D 2. E 3. E 4. B Need more practice? Get the Ultimate Review Packet. It's FREE to start. Step 1: Go to: www.ultimatereviewpacket.com Step 2: Create a free account Step 3: Enroll in the free version of the Macroeconomics packet
@sianahwidjaja44612 жыл бұрын
Yeah, I got all of them correct.
@marcosalazar88822 жыл бұрын
Why are those the answer? An explanation would be sweet.
@riddlewrong Жыл бұрын
You should pin this. I had to scroll down quite a lot to find this comment.
@JacobAClifford Жыл бұрын
@@riddlewrong Fixed. Thank you!
@_httpantwon Жыл бұрын
@@devin7551 Why wouldn't it be C? If the government is giving out more money than the supply increases @Jacob Clifford
@chasesimple2 жыл бұрын
I learned more in these 6 minutes than I did in my 3 hour long macroeconomics class today.
@danishxnyg8580 Жыл бұрын
good job out of you!
@codyzhu947410 ай бұрын
santamaria?
@theundefeatedfangirlforlif24166 ай бұрын
Same😂
@123GoldenRetrievers4 жыл бұрын
I do not even have to take more economic courses anymore, but I will never forget how much your videos helped me. I watched them all throughout my senior year of high school to sophomore year of college cause I had to take econ courses those times.
@JacobAClifford4 жыл бұрын
Thanks Michelle. I'm glad I was able to help and I hope you still love econ :)
@123GoldenRetrievers4 жыл бұрын
@@JacobAClifford I cannot believe I got a reply from the legendary Jacob Clifford omg 😱🤩. Your videos were the only thing I loved about Econ haha 😆
@randylin1871 Жыл бұрын
Lol it’s Michelle
@randylin1871 Жыл бұрын
Wasn’t sure until I saw the fan in ur page 💀
@123GoldenRetrievers Жыл бұрын
@@randylin1871 WTF RANDY?! HAHAH HI small world dude
@geotheomusic7614 жыл бұрын
You are the guy that makes my life easier. Such an iconic person
@52andattitude484 жыл бұрын
God your timing is just absolutely insane. This is the third time my class has started a new topic and you uploaded a video about it the very next day I really can’t thank you enough for these videos!
@leonardowilhelmdicaprio9994 жыл бұрын
I missed Mr Clifford's lessons.Bloody hell,it's absolutely good to have you back!
@BH_Restorative_fitness3 жыл бұрын
I started watching you to get an A on economics. Now I’m watching your videos so I will not forget this awesome information.
@Nivislmon3 ай бұрын
Thank you Mr. Clifford for this amazing lesson! I was honestly confused why all the commentators were saying "learned more in a few minutes than some hours in my macro class" but now in university I relate to every single one of em and you did an amazing job explaining these concepts in a clear and concise way.
@springdayisnottoday3713 жыл бұрын
Here because of my econ class. My prof loves you 😂 and i love u too thank you for making economics less daunting!
@nonamedistant3211 Жыл бұрын
this mans a life saver. im a freshman in high school rn and this man has taught me more in 6 mins than my macro teacher had in a week. Thank You!!
@kritikauntia36543 жыл бұрын
You're a star, Mr. Clifford. Thank you for these videos!
@Sal-bw3zn3 жыл бұрын
Notes from this video... *Aggregate means added all together. What is aggregate supply? supply for everything in the entire economy x = real gdp y = price level (inverse relationship) -- upward sloping: a change in... resource prices--the cost or availability of key resources will affect the amount that producers can make in the short-run actions by the government--taxes, subsidies, or regulations can change the incentives of producers and affect the amount they produce productivity--technology or human capital can change the amount of producers can make with the same amount of resources shift left = decrease | shift right = increase ; when price shifts, eventually it will adjust/balance and become long-run aggregate supply (vertical || same concept as production possibilities curve--representing max capacity at full employment) capital stock--the accumulation of physical capital, like factories, tools, and equipment, used to produce goods and services (in economics, “capital” is never money) negative supply shock--an unexpected decrease in the availability of a key resource: this causes a decrease in the short-run aggregate supply. positive supply shock--an unexpected increase in the availability of a key resource: this causes an increase in the short-run aggregate supply.
@johngarett2980 Жыл бұрын
my favourite youtuber right now i binge watch all your vids!!! I LOVE ACDC ECONOMICS!!!!!!!!!!!!!!!!
@thewisedragon60293 жыл бұрын
Answers to the pop quiz 1-D Specialized training that improves human capital (this is because employees will produce more but the salary remains the same,so more is produced for the same cost,therefore costs for producing more units will go down,increasing Short run AS 2-E The per unit cost of production (If the costs of production per unit will increase,in the short run,the company will produce less while having the same amount of resources,less will be produced so the short run AS curve will shift to the left) 3-E The long run AS curve will shift to the right (the production possibility curve shows what can be produced in the economy,so if it shifts to the right,the amount that can be produced in the economy will increase,so the LRAS curve will shift to the right,as more supply can be produced) 4-B A increase in productivity (when more can be produced with the given resources,there's more efficiency in the usage of those resources in the economy,the LRAS curve will shift to the right)
@shammaalali3523 жыл бұрын
For number 2 but B is also correct bc they won’t supply that much when they don’t have enough money
@moyoumi17862 жыл бұрын
@@shammaalali352 no because it says an increase. if there's an increase in money supply they would be able to produce more. I think you misread the question.
@estepafernandez15342 жыл бұрын
1---"..cost for producing more units will be the same..."
@TemuHomelander3 жыл бұрын
thanks Clifford for making our lives easier with econ
@slitherr50363 жыл бұрын
Correct answers: 1. D 2. E 3. E 4. B
@lifeisnotajokee2 жыл бұрын
Genius👍👍
@thunderquack60953 жыл бұрын
You are literally the greatest don’t ever stop doing these😁
@Dreygonball4 жыл бұрын
Me : "I learn nothing from online classes" Also me : *watching your videos and understand everything*
@DanielRTSC3 жыл бұрын
@@searchfluoridemakesyoustup5883 It will depend on the market. Eventhough the cost is near to zero, the price is determined by demand and supply. Also, it depends on which market we are talking about. Besides, we have to consider the type of good they are producing. there are some problems that makes the government make laws about.
@finnleylondon27553 жыл бұрын
i know Im asking the wrong place but does any of you know of a method to log back into an Instagram account? I somehow forgot the account password. I would appreciate any help you can give me
@majid21963 жыл бұрын
@@finnleylondon2755 use email to reset
@kaifhassan41502 жыл бұрын
Excellent
@kylaprins86463 жыл бұрын
Thanks for making online classes so much more productive the world could use for econ lecturers like you!!!!!
@chaseh61443 жыл бұрын
My guy thank you so much I don't understand this stuff in class but you make it so much easier to understand. College Professors have to sit explain this stuff for hours but you make it so much easier to understand.
@michaelleslie83102 жыл бұрын
Came across this unexpectedly, and was so interesting, and charmed by the well-made video and charisma I watched the whole thing. Well done.
@jennifersanjose79433 жыл бұрын
After I failed my exam in Macroeconomics, I tried looking for vidoes. His videos is a game changer! I understand Macroeconomics better. How I wish I watched all his video and his review packet before my exam. Now I a have another exam and I feel more confident.
@MarleenGoo7 ай бұрын
Hey bestie, our 5th period class has been loving your videos!
@phillipgunter8375 Жыл бұрын
I'm studying macroeconomics using gregory mankiw's book.... I can honestly say I gained a much better understanding of the aggregate supply curves watching this video than struggling through the very cumbersome explanations of the mankiw guy this entire weekend! If acdc has a book I can buy then I would because the way you explain things s#!ts all over this book I'm reading
@MarleenGoo7 ай бұрын
Hi Mr.Clifford, our 1st period AP Macro class did really well! Thank you for your video!!
@ashleytaylor96462 жыл бұрын
This video way more helpful than my teacher is! So thank you !
@Nangesoup Жыл бұрын
I got 5 out of 5 on the quiz thanks to your expert teaching :)
@littlebee334 жыл бұрын
Omg I just learned this today! Thank you so much!! Your videos are super helpful (especially during this time when all my classes are online and even more confusing!!)
@VishitaUnfiltered4 жыл бұрын
I'm from India and I love the way you teach its so easy to understand Thankyou
@mariapazdla3 жыл бұрын
you are the reason why i have an A in ap macroeconomics. thanks for making this video!
@rachelchavarin68172 жыл бұрын
YOU MADE THIS TOPIC WAY EASIER TO UNDERSTAND !!!!!!
@jadebrouet70273 жыл бұрын
probably my fav youtuber
@JimHolmes-e7e11 ай бұрын
Our class did great - 7 out of 7! 🙂
@dolthhaven8564 Жыл бұрын
tak you for teaching me about aggregate supply jaky c
@zainjafrani9885 Жыл бұрын
i never had a larger moment of realization till i watched this video a couple of times
@AyushMita10163 жыл бұрын
Most amazing teacher!
@zenadelling64423 жыл бұрын
I could not get this concept of AD, AS, Short-run, and Long-run at all by reading the textbook. It is definitely not an easy concept to understand. Thank you for making it simple. I am grateful that you care and are a great professor. Please keep making videos.
@kevinrodriguez70352 жыл бұрын
Thank God I found this video!
@valoranator53992 жыл бұрын
I DID SO GOOD ON THE PRACTICE QUESTIONS
@dabossbabie36053 жыл бұрын
Mr Clifford is a god in economics And the best Econ teacher Not because he’s good at teaching, but because he hears a magical whiteboard on the side lol
@dheerajessarani3900 Жыл бұрын
Appreciate your help. Stay blessed.
@kaitlynlee78952 жыл бұрын
Clifford you slayed the house down love you thanks so much Jonathan if you are reading this go away
@lilawhite49403 жыл бұрын
@Jacob Clifford My econ class will soon be over but I intend to continue watching your videos. You've turned me into an Econ-junkie. :)
@prabhnoorsingh10233 жыл бұрын
Thanks for clearing all my doubts 🙂 sir
@milkmanhistory71622 жыл бұрын
Thanks I'm going to pass my reading Quiz (I didn't read the amsco)
@MultiSmash234 жыл бұрын
helped me so much for my classes
@codyzhu947410 ай бұрын
Fanks for the help
@josiahwillemse35143 жыл бұрын
4 out of 5 of your questions, Mr. Clifford.
@codyzhu947410 ай бұрын
love it u saved me
@codyzhu947410 ай бұрын
real
@DanielMatan3 жыл бұрын
I love macro economics but hate those oversimplified models which are reduced to a point where they actually barely make you understand anything but how to solve questions about the model . thank you for making university b.a classes simpler to understand but other than that this is not economics
@bir18992 жыл бұрын
You look like Mark Cuban. Great video!
@diaval68554 жыл бұрын
Ur right on time sir.Thank you😀
@Doctor_Rey2 жыл бұрын
This is really helpful! Thx ~
@arbuz1353 жыл бұрын
thank you for the video, great as always
@springdayisnottoday3713 жыл бұрын
What are the correct answers? My answers were D E E B
@davidzhu843 жыл бұрын
same
@renata73353 жыл бұрын
same!! I wanna know the answers TT
@boofles.3 жыл бұрын
facts
@rajazakirah6193 жыл бұрын
i might asking for stupid question but what is D E E B?
@renata73353 жыл бұрын
@@rajazakirah619 the answers we got for the mini quiz at the end of the video
@ashwinchand69443 жыл бұрын
Any idea on where the answers are I got D E E B unsure about number 3 tho
@pacman45213 жыл бұрын
Yep idk about 2 or 3 though
@oneheadofcabbage3 жыл бұрын
This was super helpful!!
@박수연-i5o3 жыл бұрын
Thank you so much for your video!!!!
@jamilpaden63403 жыл бұрын
Where's the answer key?
@rheachalfoun46777 ай бұрын
And also change in productivity means change in I which shift AD not AS?
@hiteshchaudhary79642 жыл бұрын
AS curve: As P increases, Output increases but Can it also be said like as Output increases, Prices increases? Bcoz, as Output increases, unemployment decreases, which leads to higher wages which leads to higher prices.
@Sam-cv5gd4 жыл бұрын
I remember this topic in Micro Econ. Thanks
@empty_dayofthetech3 жыл бұрын
Which topic addresses more aggregate demand and supply? The increase of prices for used cars or the decrease demand and negative prices for oil? I think is the latter but I would like a second opinion
@dcasucci54242 жыл бұрын
Hey Jacod Cliffard, I got a 100 on ur little quiz
@bennetkatzin1627 Жыл бұрын
All correct!
@carolinasilva1518 Жыл бұрын
Thank youuuu
@brandonedwards23292 жыл бұрын
we did alright. the last one was a little tricky
@davidnonu4 жыл бұрын
Could you explain the type of economy of the healthcare system of what a conservative and liberal approach would be?
@rheachalfoun46777 ай бұрын
Hello how the AS is shifted by taxes and when we cut taxes we just shift the AD?
@bdiaz91912 жыл бұрын
thank you so much
@mariaanis583 жыл бұрын
Ahhh u are again active on your channel.nice to know.all the videos I watched are 5 years old😅
@angelapaulinemariano70453 жыл бұрын
Thank you so much!
@georgekouts4803 жыл бұрын
Deadset. I love you
@remixowlz3 жыл бұрын
I love it!
@adityagupta-dn3mg3 жыл бұрын
God of economics
@africatrendingverified1064 жыл бұрын
Im writing my paper 2 in 4hours . WISH ME LUCK 😁😊
@JacobAClifford4 жыл бұрын
Good luck!
@africatrendingverified1064 жыл бұрын
@@JacobAClifford Thank you sir And for your help
@vedparikh3 жыл бұрын
Did everyone get DEEB
@siah40993 жыл бұрын
Please do convex and concave curves of PPC
@muhammadmasood9963 жыл бұрын
what are the answers?
@ocsy16653 жыл бұрын
i can't find the answer key to the pop quiz but mine is: D E E B :-----)))))))
@veemwaniki32393 жыл бұрын
Won't an increase in interest rate shift it to the left because producers will borrow less money and produce less?
@tanjidhasanfahim36933 жыл бұрын
Hi. Why does the supply not decrease in the long run when nominal wages for workers increase?
@md06783 Жыл бұрын
Sorry I dont quite understand why the SRAS2 shifted to the right in the long run? In the graph, the point on the LRAS indicated lower price level but higher GDP. I dont get it :(
@ClipCommander69 Жыл бұрын
yah me too this guy sucks
@kakaheiwa Жыл бұрын
I just hate macroeconomics so much, but it's a required course for my degree... The explanations here don't really help me much.... I also watched it because it was required... Well... Whatever, right?
@jamessimpson8953 жыл бұрын
Gr8 vid m8
@tirutythegreat3 жыл бұрын
Hey man, love the vid but where are the answers to the pop-quiz? I found d,e,e,b
@fernandocervantes51573 жыл бұрын
Yes
@pretty37732 жыл бұрын
omg I do it all rightttttt
@marjoriecomahig42103 жыл бұрын
Thankk you!!
@hpiccus2 жыл бұрын
He did not mention changes in long run aggregate supply.
@crypticcolors2 жыл бұрын
I'd love someone's help. I got #5 wrong. Here is my thinking. If I were expecting higher inflation in the future, wouldn't I want to increase my purchasing now, in the present, before costs are higher? I'm having trouble with this one. Wouldn't I want to increase production in the present, if I thought that inflation was going to increase the value of goods that I've already produced? Wouldn't I want to buy my widgets now, when I can still afford them?
@jaytweet94942 жыл бұрын
You will actually find econ professors & textbooks who teach it both ways. The key to answering any question would be to look at the context. If workers and resource owners expect future inflation, then resource prices increase and short-run supply falls. If firms expect higher prices in the not-too-distant future, then they might increase production before resource prices can adjust and short-run supply would increase.
@lukasbaral51082 жыл бұрын
@@jaytweet9494Here is how i see it, supply is me both producing AND supplying goods to the market, so if i expect higher prices in the future i would produce NOW and store in inventory, but reduce the amount i put out on the market so that i can benefit from the higher prices in the future, hence sras shifts left.
@vaishdgr88107 ай бұрын
br then what is government spending
@vyro.23153 жыл бұрын
what are the answers?? i got D E D B
@Matt-mg2hb2 жыл бұрын
4/5 Legend
@kevindominguez96795 ай бұрын
I love you
@nathanielbain91504 жыл бұрын
hey, do you have the answers to the questions at the end?
@mrmetsman76933 жыл бұрын
I cant find them but i got D,E,E,B
@justinhahs38253 жыл бұрын
@@mrmetsman7693 I got D, E, C, B but i think you might be right on #3
@angelapaulinemariano70453 жыл бұрын
I also got D, E, E, B but im not sure for number 3
@mrmetsman76933 жыл бұрын
@@justinhahs3825 3:54 my line of thinking behind E is that when there is economic growth, both the PPC shifts right and the LRAS shifts right, so I think a shift in one would correlate a shift in another
@daviddorough20393 жыл бұрын
My answers were D, A, E, B
@davidzhu843 жыл бұрын
I think the second question was E because an increase in the cost of production would mean it would be more expensive for producers to produce thus decreasing the quantity supplied at each level. This would shift the SRAS curve left.
@shreyav26173 жыл бұрын
Why isn't the answer for number 2 in the MCQ equal to A instead of E?
@KrDavidLee2 жыл бұрын
I thought it also could be A because an increase in consumers' income would mean an increase in wages, which would decrease the sras to the left. However, I think it is incorrect to think of consumers' income solely as wages, since the income may be from other sources such as owning their own business. In general when these kinds of questions talk about changes in consumers' income they reference the aggregate demand. Changes in the components of gdp (Y = I + C + G + NX) are related to AD and not SRAS.