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

[@nadahaffar7279]

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

[@jasmineren]

i love this man. these videos deserve sm more views

[@umarrasmi5016]

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

[@alexterkov6050]

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

[@sagarsarkar5130]

This is so precise and clear!

[@SerenitySlumber200]

God bless you, sir!

[@napster1040]

Beautifully explained! :)

[@gabriellakeng9564]

Love your videos, thank you so much!!

[@Joennndnnn]

GREAT AND USEFUL

[@pp_vi_iv_]

Really useful,,, Thanks sir!

[@mapuleramabusa3780]

Great explanation... Thank You

[@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.

[@jhonrinconmalereiipainting970]

Great explanation!

[@YouWillLoveEconomics]

I'm glad you found it helpful!

[@selemonteshome2362]

Its short and precise tanks sir

[@tawhidkhondakar731]

Thanks for briefly explaining

[@YouWillLoveEconomics]

Thanks for the support!

[@sanjusingh6389]

Really helpful sir

[@YouWillLoveEconomics]

You’re very welcome!

[@jennyrodriguez7166]

thanks so much for creating this video....

[@overtonpendulum2071]

So is real GDP the same as GDP PPP?

[@naifalkhunaizi4372]

Love from Qatif!

[@shaficitahlil8966]

Absolutely

[@almazmekonnen802]

Great Great explanations!

[@uzamaimthiyaz2138]

simply awesome

[@cookiechi7469]

Can migration affect real GDP per capita

[@Freedooom835]

Very Helpful, Thanks

[@YouWillLoveEconomics]

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

[@akotoserwaah2887]

Thank you sir

[@msawow]

Thank you so much my lifesaver :')

[@itzzyaboiijosh7698]

What if u have no prices?

[@sesaenosorez7161]

Real helpful

[@gigi369.]

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

[@muema_k]

nice

[@YouWillLoveEconomics]

Thanks so much!

[@mahadiullah9725]

awsome

[@ewuramasam177]

👏👏👏

[@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.