Macro: Unit 1.3 -- Real and Nominal GDP

Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Compare and contrast nominal and real GDP
- Identify the standard of living and real GDP per capita
- Discuss the factors that can contribute to varying real GDPs around the world
- Practice calculating nominal and real GDP and analyze economic growth and contraction
- Investigate changes in the standard of living
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[@elliotlassey3118]

I hardly comment in videos but I will comment just this one time. You are the best economics teacher ever. You made the concept so interesting and very easy to understand that it's almost unbelievable. Thank you and God richly bless you

[@jasmineren]

i love this man. these videos deserve sm more views

[@nadahaffar7279]

This is the best video that describes real, nominal GDP. Thank you for the clear explanation and presentation.

[@umarrasmi5016]

This is so clear and on point. Cheers for this exceptional implementation 👌🏻💯❤️

[@sagarsarkar5130]

This is so precise and clear!

[@alexterkov6050]

Thanks! It's really help me, very good format!

[@gabriellakeng9564]

Love your videos, thank you so much!!

[@napster1040]

Beautifully explained! :)

[@SerenitySlumber200]

God bless you, sir!

[@mapuleramabusa3780]

Great explanation... Thank You

[@pp_vi_iv_]

Really useful,,, Thanks sir!

[@naifalkhunaizi4372]

Love from Qatif!

[@melvinsharty4417]

GREAT AND USEFUL

[@jennyrodriguez7166]

thanks so much for creating this video....

[@uzamaimthiyaz2138]

simply awesome

[@tawhidkhondakar731]

Thanks for briefly explaining

[@YouWillLoveEconomics]

Thanks for the support!

[@selemonteshome2362]

Its short and precise tanks sir

[@jhonrinconmalereiipainting970]

Great explanation!

[@YouWillLoveEconomics]

I'm glad you found it helpful!

[@msawow]

Thank you so much my lifesaver :')

[@Freedooom835]

Very Helpful, Thanks

[@YouWillLoveEconomics]

Awesome! Glad it was helpful. Thanks for the feedback!

[@sesaenosorez7161]

Real helpful

[@shaficitahlil8966]

Absolutely

[@almazmekonnen802]

Great Great explanations!

[@sanjusingh6389]

Really helpful sir

[@YouWillLoveEconomics]

You’re very welcome!

[@bwalyakabuswe427]

great stuff

[@akotoserwaah2887]

Thank you sir

[@mahadiullah9725]

awsome

[@gauravbansal5093]

As you said current year’s real GDP is calculated on last year’s nominal GDP but I think last year’s GDP is also a nominal GDP which will give us false results and we need to consider last year’s real GDP? Please help to solve my confusion. And another thing, you are really doing good work.

[@juhi131]

May be because, to know if there is economic growth, we compare two years, the current year with the previous year, so we use the prices of only the previous year.

[@overtonpendulum2071]

So is real GDP the same as GDP PPP?

[@ewuramasam177]

👏👏👏

[@cookiechi7469]

Can migration affect real GDP per capita

[@muema_k]

nice

[@YouWillLoveEconomics]

Thanks so much!

[@itzzyaboiijosh7698]

What if u have no prices?

[@gigi369.]

Please can u in ur coming videos put subtitle (in English)under the screen

[@nelofaramarkhil8878]

hi ur video is very helpful but try to speak slowly

[@sidhuvlogs5775]

hi ur video is very helpful but try to speak slowly nd i really like ur way of teaching thank you

[@YouWillLoveEconomics]

Thanks so much! I'm glad the videos are helpful to you.