Chapter 25: Production and Growth

[@mod6411]

I really appreciate your channel you saved me last semester with microeconomics and now I’m watching you with macro ❤

[@DrAzevedoEcon]

Great! Thanks for watching!

[@jannatsufi264]

This is my second video that I’m watching for my Econ class and the lecture, examples, even the table and the order he explains everything is exactly same as how my prof is teaching it. I wondering I should just watch KZbin instead of going to lectures

[@linnetmbotto7212]

You have broaden my understanding of a lot of concepts. Thanks for this lengthy video.

[@DrAzevedoEcon]

Happy to help!

[@ChrisVink-b5b]

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In my life ,one of things that will happen to me to make me happy most is to meet this Lucturer like face to face. since i came across his economics videos my life has changed from worse to excellent,now i can say I'm one of best economics student at my department now 🎉🎉

[@DrAzevedoEcon]

Thanks for the kind words! I'm glad to have helped. If you ever happen to be in Warrensburg, Missouri drop by and see me.

[@padraigdevitt8755]

delighted you are posting new videos ! thank you sir

[@DrAzevedoEcon]

It's good to be "back."

[@affulkwekuisaac636]

May God bless you with more ages to continue to impact on our life 🙏💯

[@nunutheshe]

taking macro micro my final year of hs.. one of the hardest ap classes I've ever taken. You are my saviour

[@DrAzevedoEcon]

I'm glad the videos have helped you out! Good luck with the rest of the class.

[@abdalla2855]

Idk what to say Sir, the way you explain is so simple to me, thank you for the hardwork.

[@DrAzevedoEcon]

I'm glad the videos have helped you!

[@abdalla2855]

@@DrAzevedoEcon ❤❤❤❤

[@tee50252]

Got an A in micro with you, planning to get an A in macro next)) Thank you for everything!

[@avijeetswain7101]

I love how you teach ❤

[@DrAzevedoEcon]

Thanks! I've had lots of practice.

[@tunadincer9571]

Thanks for videos sir. You are the best

[@DrAzevedoEcon]

Thank you! I'm happy to be able to help out!

[@ahsan-t3s]

All teachers should watch your lecture before they deliver it to the students ❣️. Thank you so muxh Sir...

[@DrAzevedoEcon]

You're welcome!

[@chan-iv9qx]

thank you so much sir! you are really helping me pass my exam!

[@DrAzevedoEcon]

Great! Good luck!

[@EainsiShunLae]

Thank you so much Sir , by the way I really want to know the next part of production and growth .

[@fatimajunejo]

Great content

[@jadhoary3492]

thank you

[@yeva_western]

wow! new video) thank you!!! so much)

[@DrAzevedoEcon]

You're welcome!!

[@leosmith4310]

Thank you so much

[@DrAzevedoEcon]

You're welcome! Happy to be able to help.

[@NgocLeBao-ix5cw]

What book did you base it on, Sir?

[@DrAzevedoEcon]

The book by Greg Mankiw: Principle of Economics.

[@aarontsoi]

Thank you professor! But I am confused with the meaning of "A". Is A represents the Productivity or Technology in the formula of Output (Y)?

[@DrAzevedoEcon]

You're welcome. Here's some more on A. Consider the following production function where A=2: Y = 2LK If we have 1 unit of labor and 1 unit of capital, we get 2 units of output (Y=2*1*1). Suppose we want to change the production function to represent labor and capital becoming more productive. We could change A to 3. Our production function would now be Y=3LK If we use the same amount of labor and capital as before (L=1 and K=1), we now get 3 units of output out of the same amounts of input.

[@aarontsoi]

@@DrAzevedoEcon Oh, thank you, professor! I get it now. So I don't have to be confused with whether the A represents productivity or technology because they are the same because what makes the productivety growth is capital of human, physical and technology advanced.

[@DrAzevedoEcon]

@@aarontsoi Exactly!

[@WillThessen]

favorite big smiths member

[@DrAzevedoEcon]

Hmmm....Big Smith, as in the band?

[@ougmass]

GDP is not the real measure of the economy, if we consider the economy as a study of satisfying both the consumption, and the happiness of people.

[@DrAzevedoEcon]

You're correct. Economists are the first to point this out. If you'll go watch my video on GDP, you'll hear a discussion of the things that GDP doesn't measure. Of course, this doesn't diminish its usefulness as one of the indicators of a healthy economy.

[@shaikmahfuz4507]

its good and detail explanation but i will be glad if you make an video that explains the way to see any country economics by considering all the information of macro and micro eco

[@imlynhh652]

36:33

[@user-nh7on2in2y]

bro the board is behind you

[@DrAzevedoEcon]

Not mine...;)

[@АлександрРусаков-в4с]

Wilson Ronald Clark Ruth Brown Melissa