Jacob Clifford

The speaker predicts they will release more educational videos soon to assist students with the conclusion of the first semester.

I've got more videos coming soon to help you with the end of first semester.

1 year ago Pending

The speaker predicts they will release more educational videos soon to assist students with the conclusion of the first semester.

I've got more videos coming soon to help you with the end of first semester.

Pending

New unit summary videos, additional episodes of Ecom movies, and new exam preparation resources will be released in 2025.

I have even more stuff coming in 2025 with new unit summary videos more episodes of Ecom movies and some brand new exam prep resources that teachers and students are going to love

1 year ago Pending

New unit summary videos, additional episodes of Ecom movies, and new exam preparation resources will be released in 2025.

I have even more stuff coming in 2025 with new unit summary videos more episodes of Ecom movies and some brand new exam prep resources that teachers and students are going to love

Pending

The AP Macroeconomics exam will include a question or concept related to crowding out.

you're definitely going to see the idea of crowding out

1 year ago Pending

The AP Macroeconomics exam will include a question or concept related to crowding out.

you're definitely going to see the idea of crowding out

Pending

The AP Macroeconomics exam will include a question requiring differentiation between fiscal and monetary policy.

you're also going to see something like question six you have to differentiate between fiscal policy and monetary policy

1 year ago Pending

The AP Macroeconomics exam will include a question requiring differentiation between fiscal and monetary policy.

you're also going to see something like question six you have to differentiate between fiscal policy and monetary policy

Pending

The AP Macroeconomics exam will include a multiple-choice question using the spending multiplier.

you're definitely going to see a multiple choice question like question five having to use the spending multiplier

1 year ago Pending

The AP Macroeconomics exam will include a multiple-choice question using the spending multiplier.

you're definitely going to see a multiple choice question like question five having to use the spending multiplier

Pending

The AP Macroeconomics exam will include 2-3 questions on aggregate demand and supply shifting.

you're going to see two or three of these on the AP exam

1 year ago Pending

The AP Macroeconomics exam will include 2-3 questions on aggregate demand and supply shifting.

you're going to see two or three of these on the AP exam

Pending

The AP Macroeconomics exam will include multiple-choice questions requiring equations for concepts such as GDP deflator, unemployment, and CPI.

you are going to see some multiple choice questions that required to use an equation things like the deflator unemployment and CPI

1 year ago Pending

The AP Macroeconomics exam will include multiple-choice questions requiring equations for concepts such as GDP deflator, unemployment, and CPI.

you are going to see some multiple choice questions that required to use an equation things like the deflator unemployment and CPI

Pending

The AP Macroeconomics exam will include at least one question on identifying types of unemployment (frictional, cyclical, structural).

I guarantee you're going to get one question like number two we have to figure out is it frictional cyclical or structural unemployment

1 year ago Pending

The AP Macroeconomics exam will include at least one question on identifying types of unemployment (frictional, cyclical, structural).

I guarantee you're going to get one question like number two we have to figure out is it frictional cyclical or structural unemployment

Pending

The AP Microeconomics exam's first FRQ will include challenging questions on topics such as adjusting to long-run equilibrium in perfect competition, or deadweight loss and regulation related to monopolies.

there's also going to be tricky questions like adjusting to a new long run equilibrium for perfect competition or dead weight loss and regulation for a monopoly

1 year ago Pending

The AP Microeconomics exam's first FRQ will include challenging questions on topics such as adjusting to long-run equilibrium in perfect competition, or deadweight loss and regulation related to monopolies.

there's also going to be tricky questions like adjusting to a new long run equilibrium for perfect competition or dead weight loss and regulation for a monopoly

Pending

The AP Macroeconomics exam will include 1-2 multiple-choice questions on comparative advantage.

you're definitely going to see one or two multiple choice questions on compared advantage on your AP exam

1 year ago Pending

The AP Macroeconomics exam will include 1-2 multiple-choice questions on comparative advantage.

you're definitely going to see one or two multiple choice questions on compared advantage on your AP exam

Pending

The speaker will conduct in-person workshops in July 2024.

I'll also do inperson workshops in July

1 year ago Pending

The speaker will conduct in-person workshops in July 2024.

I'll also do inperson workshops in July

Pending

The first Free Response Question (FRQ) on the AP Microeconomics exam will likely cover either a perfectly competitive product market (with side-by-side graphs for market and firm) or a monopoly (requiring graph drawing/analysis).

the first first FA response almost always ask about one of two things either a perfectly competitive product Market showing side by-side grass for a market and a firm or a monopoly where you have to draw the graph yourself or analyze the graph that they give you

1 year ago Pending

The first Free Response Question (FRQ) on the AP Microeconomics exam will likely cover either a perfectly competitive product market (with side-by-side graphs for market and firm) or a monopoly (requiring graph drawing/analysis).

the first first FA response almost always ask about one of two things either a perfectly competitive product Market showing side by-side grass for a market and a firm or a monopoly where you have to draw the graph yourself or analyze the graph that they give you

Pending

The speaker will start new online institutes in June 2024.

in June I'm starting my new online institutes

1 year ago Pending

The speaker will start new online institutes in June 2024.

in June I'm starting my new online institutes

Pending

The new Bingo activity will help AP Macro and AP Micro students practice key graphs.

it's going to help your students practice the key graphs

1 year ago Pending

The new Bingo activity will help AP Macro and AP Micro students practice key graphs.

it's going to help your students practice the key graphs

Pending

The author predicts that they will create many new videos and educational resources within the next few weeks, aimed at helping students prepare for their final exams and AP exams.

I'm going to be making a ton of new videos and resources in the next few weeks to help you get ready for your final exams and the AP exam

1 year ago Pending

The author predicts that they will create many new videos and educational resources within the next few weeks, aimed at helping students prepare for their final exams and AP exams.

I'm going to be making a ton of new videos and resources in the next few weeks to help you get ready for your final exams and the AP exam

Pending

The author's in-person workshops for 2024 will be held in San Diego, California.

this year 2024 the workshops are going to be in San Diego California

1 year ago Pending

The author's in-person workshops for 2024 will be held in San Diego, California.

this year 2024 the workshops are going to be in San Diego California

Pending

If both demand and supply decrease, the equilibrium quantity will definitively decrease, but the equilibrium price will be indeterminate (ambiguous), as it could either increase or decrease depending on the relative magnitudes of the shifts.

Assume you have a question that says the demand's going to fall and the Supply is going to fall what's going to happen to price and quantity... the quantity is definitely going to decrease the price might go up it might go down so that's the one that's indeterminate or your teacher might use the term ambiguous

1 year ago Pending

If both demand and supply decrease, the equilibrium quantity will definitively decrease, but the equilibrium price will be indeterminate (ambiguous), as it could either increase or decrease depending on the relative magnitudes of the shifts.

Assume you have a question that says the demand's going to fall and the Supply is going to fall what's going to happen to price and quantity... the quantity is definitely going to decrease the price might go up it might go down so that's the one that's indeterminate or your teacher might use the term ambiguous

Pending

When both the supply and demand curves shift simultaneously, either the equilibrium price or the equilibrium quantity (or both) will be indeterminate, meaning its direction of change cannot be definitively determined without knowing the relative magnitudes of the shifts.

When two curves shift at the same time either price or quantity is going to be indeterminate in other words you won't be able to tell it could go up or it could go down

1 year ago Pending

When both the supply and demand curves shift simultaneously, either the equilibrium price or the equilibrium quantity (or both) will be indeterminate, meaning its direction of change cannot be definitively determined without knowing the relative magnitudes of the shifts.

When two curves shift at the same time either price or quantity is going to be indeterminate in other words you won't be able to tell it could go up or it could go down

Pending

If the price of cream (an input for ice cream) significantly decreases, the supply curve for ice cream will shift to the right, resulting in a lower equilibrium price and a higher equilibrium quantity.

Draw market for for ice cream and show what'll happen if the price of cream and input significantly decreases... the supply is going to shift to the right... price went down and the quantity went up

1 year ago Pending

If the price of cream (an input for ice cream) significantly decreases, the supply curve for ice cream will shift to the right, resulting in a lower equilibrium price and a higher equilibrium quantity.

Draw market for for ice cream and show what'll happen if the price of cream and input significantly decreases... the supply is going to shift to the right... price went down and the quantity went up

Pending

If the market price is below the equilibrium price, a shortage will occur, leading to an increase in prices as consumers bid higher for the limited supply.

When the price is below equilibrium and there's a shortage eventually prices will go up because consumers will bid up those prices

1 year ago Pending

If the market price is below the equilibrium price, a shortage will occur, leading to an increase in prices as consumers bid higher for the limited supply.

When the price is below equilibrium and there's a shortage eventually prices will go up because consumers will bid up those prices

Pending

If the market price is above the equilibrium price, a surplus will occur, leading to a fall in prices as sellers compete to sell their excess inventory.

When the price is too high and above equilibrium then there's a surplus and eventually prices will fall because sellers have all these extra units they're going to lower the price so people will buy them

1 year ago Pending

If the market price is above the equilibrium price, a surplus will occur, leading to a fall in prices as sellers compete to sell their excess inventory.

When the price is too high and above equilibrium then there's a surplus and eventually prices will fall because sellers have all these extra units they're going to lower the price so people will buy them

Pending

If the price of milking machines, a key input for milk production, increases, the supply curve for milk will shift to the left, indicating a decrease in supply.

Show what happens to the supply curve for milk if the price of milking machines increases... milking machines are a key resource for producing milk so the supply of milk is going to shift to the left at every price milk producers are going to be willing and able to sell less milk

1 year ago Pending

If the price of milking machines, a key input for milk production, increases, the supply curve for milk will shift to the left, indicating a decrease in supply.

Show what happens to the supply curve for milk if the price of milking machines increases... milking machines are a key resource for producing milk so the supply of milk is going to shift to the left at every price milk producers are going to be willing and able to sell less milk

Pending

If the price of a substitute product for milk decreases, the demand curve for milk will shift to the left, indicating a decrease in demand.

What happens to demand curve for milk if the price of a substitute Falls... This would cause the demand for milk to decrease and shift to the left at every price consumers are willing and able to buy less because the price of a substitute has fallen they're going to buy the other good instead

1 year ago Pending

If the price of a substitute product for milk decreases, the demand curve for milk will shift to the left, indicating a decrease in demand.

What happens to demand curve for milk if the price of a substitute Falls... This would cause the demand for milk to decrease and shift to the left at every price consumers are willing and able to buy less because the price of a substitute has fallen they're going to buy the other good instead

Pending

A decrease in the price of milk will result in a movement along the existing demand curve for milk (change in quantity demanded), rather than a shift of the entire demand curve.

What happens to the demand curve for milk if the price of milk Falls... nothing the demand doesn't shift remember a change in the price of the product moves along the curve just remember price doesn't shift the curve

1 year ago Pending

A decrease in the price of milk will result in a movement along the existing demand curve for milk (change in quantity demanded), rather than a shift of the entire demand curve.

What happens to the demand curve for milk if the price of milk Falls... nothing the demand doesn't shift remember a change in the price of the product moves along the curve just remember price doesn't shift the curve

Pending

A terms of trade where one plane is exchanged for three cars would be mutually beneficial for the US and Canada, as it would allow both countries to acquire the traded good at a lower opportunity cost than producing it themselves.

To answer question four trading one plane for three cars would be mutually beneficial. It would benefit both countries because Canada can get a Plane by only giving up three cars instead of four and the United States can get a car by giving up only a third of a plane instead of giving up one half.

1 year ago Pending

A terms of trade where one plane is exchanged for three cars would be mutually beneficial for the US and Canada, as it would allow both countries to acquire the traded good at a lower opportunity cost than producing it themselves.

To answer question four trading one plane for three cars would be mutually beneficial. It would benefit both countries because Canada can get a Plane by only giving up three cars instead of four and the United States can get a car by giving up only a third of a plane instead of giving up one half.

Pending

Given US production (5 planes or 10 cars/day) and Canadian production (2 planes or 8 cars/day), the US should specialize in planes (opportunity cost of 2 cars/plane), and Canada should specialize in cars (opportunity cost of 0.25 plane/car).

The United States has a comparative advantage in the production of planes because they have a lower opportunity cost. And Canada has a comparative advantage in Cars... So with these numbers Canada should specialize in producing the cars the United States should specialize in producing planes.

1 year ago Pending

Given US production (5 planes or 10 cars/day) and Canadian production (2 planes or 8 cars/day), the US should specialize in planes (opportunity cost of 2 cars/plane), and Canada should specialize in cars (opportunity cost of 0.25 plane/car).

The United States has a comparative advantage in the production of planes because they have a lower opportunity cost. And Canada has a comparative advantage in Cars... So with these numbers Canada should specialize in producing the cars the United States should specialize in producing planes.

Pending

An increase in the number of workers, improved worker quality (human capital), or more physical capital will cause the entire Production Possibilities Curve (PPC) to shift outward to the right, making previously unattainable production combinations possible.

But if we did have more workers, or better workers, or more physical capital then the entire production possibilities curve would shift outward to the right. Combinations that were impossible would now be possible because we have more resources.

1 year ago Pending

An increase in the number of workers, improved worker quality (human capital), or more physical capital will cause the entire Production Possibilities Curve (PPC) to shift outward to the right, making previously unattainable production combinations possible.

But if we did have more workers, or better workers, or more physical capital then the entire production possibilities curve would shift outward to the right. Combinations that were impossible would now be possible because we have more resources.

Pending

Marginal analysis will be a frequently recurring concept in future units, applied to various decision-making scenarios such as firm production quantities and employer hiring.

We're going to do variations of the same thing over and over again in future units. Whether it's a firm deciding how many units to produce or an employer deciding how many workers to hire, we're going to be using a lot of marginal analysis.

1 year ago Pending

Marginal analysis will be a frequently recurring concept in future units, applied to various decision-making scenarios such as firm production quantities and employer hiring.

We're going to do variations of the same thing over and over again in future units. Whether it's a firm deciding how many units to produce or an employer deciding how many workers to hire, we're going to be using a lot of marginal analysis.

Pending

Students are likely to be tested on utility maximizing and consumer choice on their next quiz or unit exam.

One of the things you're probably going to have to do on your next quiz or unit exam is called utility maximizing and consumer choice.

1 year ago Pending

Students are likely to be tested on utility maximizing and consumer choice on their next quiz or unit exam.

One of the things you're probably going to have to do on your next quiz or unit exam is called utility maximizing and consumer choice.

Pending

If a country moves from recession and unemployment to a strong economy with full employment, the economy will shift from an inefficient point inside the Production Possibilities Curve (PPC) to an efficient point on the curve; the PPC itself will not shift outward.

Show what will happen on this graph when a country goes from having a recession with a lot of unemployment to having a strong economy and full employment. Pause the video and see if you can figure it out... we're going from an inefficient combination where workers aren't being fully utilized to an efficient combination at full employment which is a point on the curve. The curve doesn't shift.

1 year ago Pending

If a country moves from recession and unemployment to a strong economy with full employment, the economy will shift from an inefficient point inside the Production Possibilities Curve (PPC) to an efficient point on the curve; the PPC itself will not shift outward.

Show what will happen on this graph when a country goes from having a recession with a lot of unemployment to having a strong economy and full employment. Pause the video and see if you can figure it out... we're going from an inefficient combination where workers aren't being fully utilized to an efficient combination at full employment which is a point on the curve. The curve doesn't shift.

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The concept of costs (explicit and implicit) will be revisited in Unit 3 for calculations of revenue and profit.

We're going to come back to it in Unit 3 when we calculate revenue and profit.

1 year ago Pending

The concept of costs (explicit and implicit) will be revisited in Unit 3 for calculations of revenue and profit.

We're going to come back to it in Unit 3 when we calculate revenue and profit.

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Students will immediately assess their understanding of comparative advantage by attempting practice questions.

You're going to find out right now if you know how to do this.

1 year ago Pending

Students will immediately assess their understanding of comparative advantage by attempting practice questions.

You're going to find out right now if you know how to do this.

Pending

Using students' own data in activities will increase their engagement, understanding, and excitement about economic concepts.

if you do that students are more likely to get engaged and understand and get excited about the concepts

1 year ago Pending

Using students' own data in activities will increase their engagement, understanding, and excitement about economic concepts.

if you do that students are more likely to get engaged and understand and get excited about the concepts

Pending

Students are very likely to encounter both output and input type comparative advantage questions on their upcoming quizzes or exams.

There's actually two different types of comparative advantage questions. The one you saw was an output question. Now we also have to talk about input questions. It's very likely that you'll see both types on your next quiz or exam.

1 year ago Pending

Students are very likely to encounter both output and input type comparative advantage questions on their upcoming quizzes or exams.

There's actually two different types of comparative advantage questions. The one you saw was an output question. Now we also have to talk about input questions. It's very likely that you'll see both types on your next quiz or exam.

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Mastering the four comparative advantage tasks (identifying absolute/comparative advantage, calculating opportunity cost, and finding terms of trade) will ensure readiness for any related exam question.

If you could do these four things then you are ready for any question your teacher or professor is going to give you.

1 year ago Pending

Mastering the four comparative advantage tasks (identifying absolute/comparative advantage, calculating opportunity cost, and finding terms of trade) will ensure readiness for any related exam question.

If you could do these four things then you are ready for any question your teacher or professor is going to give you.

Pending

The purchased Legos can be reused for the activity every single year.

you can use them for every single year

1 year ago Pending

The purchased Legos can be reused for the activity every single year.

you can use them for every single year

Pending

Exam questions on comparative advantage will consistently feature tables with two countries, two products, and numerical data, and students will always be asked four specific types of questions.

Your teacher or professor is going to give you a question like this with two countries, two products, and numbers. The countries, products, and numbers might change but you'll always be asked four different types of questions:

1 year ago Pending

Exam questions on comparative advantage will consistently feature tables with two countries, two products, and numerical data, and students will always be asked four specific types of questions.

Your teacher or professor is going to give you a question like this with two countries, two products, and numbers. The countries, products, and numbers might change but you'll always be asked four different types of questions:

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A $12 bag of off-brand Legos will provide enough bricks for 3-4 student activity sets.

I bought this bag for like $12 this will give me three or four uh sets for these different students

1 year ago Pending

A $12 bag of off-brand Legos will provide enough bricks for 3-4 student activity sets.

I bought this bag for like $12 this will give me three or four uh sets for these different students

Pending

Questions on comparative advantage that appear on exams will be difficult, despite the concept itself being easy.

So the concept is easy but the questions you're going to see on your exam those are hard.

1 year ago Pending

Questions on comparative advantage that appear on exams will be difficult, despite the concept itself being easy.

So the concept is easy but the questions you're going to see on your exam those are hard.

Pending

Students are likely to encounter two distinct types of Production Possibilities Curves (PPCs) on quizzes or exams.

You're likely to see two different types of PPCs.

1 year ago Pending

Students are likely to encounter two distinct types of Production Possibilities Curves (PPCs) on quizzes or exams.

You're likely to see two different types of PPCs.

Pending

The Lego Towers activity, including debrief and worksheet, will take approximately 20 minutes to complete.

the whole activity from top to bottom takes about 20 minutes to run to fill out the worksheet and to have those debrief conversations

1 year ago Pending

The Lego Towers activity, including debrief and worksheet, will take approximately 20 minutes to complete.

the whole activity from top to bottom takes about 20 minutes to run to fill out the worksheet and to have those debrief conversations

Pending

Exams will require students to perform three tasks related to the Production Possibilities Curve (PPC): explaining economic concepts demonstrated by the graph (e.g., efficiency), calculating opportunity cost, and illustrating shifts of the PPC.

Now there are three things that you're teaching or professor is going to have you do with this graph. First, they're going to ask questions having you explain how this graph demonstrates different economic concepts, like efficiency. Second your teacher will ask you to use the PPC to calculate the opportunity cost of moving to different combinations. The third thing your teacher will have you do is show how changes move or shift the PPC.

1 year ago Pending

Exams will require students to perform three tasks related to the Production Possibilities Curve (PPC): explaining economic concepts demonstrated by the graph (e.g., efficiency), calculating opportunity cost, and illustrating shifts of the PPC.

Now there are three things that you're teaching or professor is going to have you do with this graph. First, they're going to ask questions having you explain how this graph demonstrates different economic concepts, like efficiency. Second your teacher will ask you to use the PPC to calculate the opportunity cost of moving to different combinations. The third thing your teacher will have you do is show how changes move or shift the PPC.

Pending

The concept of opportunity cost, introduced in Topic 1.3, will be relevant and applied by students throughout their lives.

In topic 1.3 you're introduced to a concept you're going to use for the rest of your life, the idea of opportunity cost.

1 year ago Pending

The concept of opportunity cost, introduced in Topic 1.3, will be relevant and applied by students throughout their lives.

In topic 1.3 you're introduced to a concept you're going to use for the rest of your life, the idea of opportunity cost.

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Taking economics will increase students' human capital, making them more productive and valuable to future employers.

You're trying to increase your human capital making yourself more productive and more valuable to employers.

1 year ago Pending

Taking economics will increase students' human capital, making them more productive and valuable to future employers.

You're trying to increase your human capital making yourself more productive and more valuable to employers.

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Students who do not participate in practice activities suggested by the speaker will likely set themselves up for failure on upcoming exams, as the practice questions are representative of exam content.

If you're not participating then you're definitely not going to get the most out of these videos. Because, every once in a while I'm gonna say stop this video, I want you to draw this graph or do those calculations. And, I promise you I'm not wasting your time. I know the questions your teacher or professor is going to ask you. So, when I ask you to stop and practice, go ahead and try those things because that's what you're going to see on your next exam.

1 year ago Pending

Students who do not participate in practice activities suggested by the speaker will likely set themselves up for failure on upcoming exams, as the practice questions are representative of exam content.

If you're not participating then you're definitely not going to get the most out of these videos. Because, every once in a while I'm gonna say stop this video, I want you to draw this graph or do those calculations. And, I promise you I'm not wasting your time. I know the questions your teacher or professor is going to ask you. So, when I ask you to stop and practice, go ahead and try those things because that's what you're going to see on your next exam.

Pending

The concepts from the activity are predicted to connect in students' minds, providing lasting educational benefits throughout the semester.

These things are going to connect in students mind and you're going to get a lot of benefit throughout the entire semester

1 year ago Pending

The concepts from the activity are predicted to connect in students' minds, providing lasting educational benefits throughout the semester.

These things are going to connect in students mind and you're going to get a lot of benefit throughout the entire semester

Pending

Future microeconomics concepts, specifically comparative advantage and terms of trade, will be challenging for students and may cause confusion.

Eventually things get a little harder like drawing the production possibly is curve or supply and demand but they're still pretty easy. But then things are going to get a lot harder like figuring out comparative advantage or terms of trade. That stuff is harder and you're going to feel confused.

1 year ago Pending

Future microeconomics concepts, specifically comparative advantage and terms of trade, will be challenging for students and may cause confusion.

Eventually things get a little harder like drawing the production possibly is curve or supply and demand but they're still pretty easy. But then things are going to get a lot harder like figuring out comparative advantage or terms of trade. That stuff is harder and you're going to feel confused.

Pending

During the activity, some students will grasp the concepts and perform well (e.g., buying cheap, selling high), while others will be confused and make poor decisions (e.g., buying expensive, selling cheap).

you're going to find that in this activity there'll be students who understand what's going on they're a business they're buying resources nice and cheap and they're turning around producing ducks and they're trying to sell them for a higher price you'll have other students who are kind of confused who are businesses who are like you know paying $500 for uh the resources and only selling ducks for like $200 and it's like you're making a huge loss like they don't understand kind of what's going on

1 year ago Pending

During the activity, some students will grasp the concepts and perform well (e.g., buying cheap, selling high), while others will be confused and make poor decisions (e.g., buying expensive, selling cheap).

you're going to find that in this activity there'll be students who understand what's going on they're a business they're buying resources nice and cheap and they're turning around producing ducks and they're trying to sell them for a higher price you'll have other students who are kind of confused who are businesses who are like you know paying $500 for uh the resources and only selling ducks for like $200 and it's like you're making a huge loss like they don't understand kind of what's going on

Pending

Students will make connections and receive significant benefit from the activity throughout the semester.

these things are going to connect in students mind and you're going to get a lot of benefit throughout the entire semester

1 year ago Pending

Students will make connections and receive significant benefit from the activity throughout the semester.

these things are going to connect in students mind and you're going to get a lot of benefit throughout the entire semester

Pending

During the 'Ducks and Bucks' activity, some students are predicted to quickly grasp the economic concepts and act profitably, while others will remain confused and make financially poor decisions.

you're going to find that in this activity there'll be students who understand what's going on they're a business they're buying resources nice and cheap and they're turning around producing ducks and they're trying to sell them for a higher price you'll have other students who are kind of confused who are businesses who are like you know paying $500 for uh the resources and only selling ducks for like $200 and it's like you're making a huge loss like they don't understand kind of what's going on

1 year ago Pending

During the 'Ducks and Bucks' activity, some students are predicted to quickly grasp the economic concepts and act profitably, while others will remain confused and make financially poor decisions.

you're going to find that in this activity there'll be students who understand what's going on they're a business they're buying resources nice and cheap and they're turning around producing ducks and they're trying to sell them for a higher price you'll have other students who are kind of confused who are businesses who are like you know paying $500 for uh the resources and only selling ducks for like $200 and it's like you're making a huge loss like they don't understand kind of what's going on

Pending

FRQ Question 3 on the AP Microeconomics exam will cover a perfectly competitive labor market and firm (calculating Marginal Revenue Product, optimal workers to hire, relevant graphs, minimum wage impact).

and for free response number three I think they're going to pull from unit five with a perfect competitive labor market and firm so either a chart we have to calculate the marginal revenue product and find out how many workers to hire or the graph showing the same concept also inside there I think they're going to work in a minimum wage or something's going to happen in the market that affects the price and therefore the MRP so to recap free response number one perfect competition and externalities number two utility maximizing and elasticity and number three labor market market and firm

1 year ago Pending

FRQ Question 3 on the AP Microeconomics exam will cover a perfectly competitive labor market and firm (calculating Marginal Revenue Product, optimal workers to hire, relevant graphs, minimum wage impact).

and for free response number three I think they're going to pull from unit five with a perfect competitive labor market and firm so either a chart we have to calculate the marginal revenue product and find out how many workers to hire or the graph showing the same concept also inside there I think they're going to work in a minimum wage or something's going to happen in the market that affects the price and therefore the MRP so to recap free response number one perfect competition and externalities number two utility maximizing and elasticity and number three labor market market and firm

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If factor cards are not color-coded, it will be harder for the teacher to set up the activity for subsequent classes.

but if you don't change up the color it's going to be harder when you know period one leaves and period two shows up and you're trying to set up the activity for the next round of students

1 year ago Pending

If factor cards are not color-coded, it will be harder for the teacher to set up the activity for subsequent classes.

but if you don't change up the color it's going to be harder when you know period one leaves and period two shows up and you're trying to set up the activity for the next round of students

Pending

The 'Ducks and Bucks' activity is predicted to take 25 to 35 minutes to complete if executed efficiently.

the activity takes about 25 5 to 35 minutes to run the whole thing if you're going quick and moving fast

1 year ago Pending

The 'Ducks and Bucks' activity is predicted to take 25 to 35 minutes to complete if executed efficiently.

the activity takes about 25 5 to 35 minutes to run the whole thing if you're going quick and moving fast

Pending

FRQ Question 2 on the AP Microeconomics exam will cover utility maximization (total utility, income constraint, optimal consumption) and elasticity (calculating demand/supply coefficients).

I think question two is going to be on utility maximizing a question like this they'll give you the total utility for consuming two different products and an income constraint and you have to find the right combination to maximize utility from there they're going to switch the question and ask you about elasticity and calculating the elasticity to demand or Supply coefficient so for question two I think maximizing utility and elasticity

1 year ago Pending

FRQ Question 2 on the AP Microeconomics exam will cover utility maximization (total utility, income constraint, optimal consumption) and elasticity (calculating demand/supply coefficients).

I think question two is going to be on utility maximizing a question like this they'll give you the total utility for consuming two different products and an income constraint and you have to find the right combination to maximize utility from there they're going to switch the question and ask you about elasticity and calculating the elasticity to demand or Supply coefficient so for question two I think maximizing utility and elasticity

Pending

FRQ Question 1 on the AP Microeconomics exam will cover perfect competition (short-run profit/loss, long-run adjustment) and externalities (positive/negative, allocative efficiency, socially optimal, deadweight loss, graph drawing).

this year on set one I think you're going to see sideb side graphs for perfect competition so drawing a profit or a loss in the short run and the next part of the question is going to ask you about putting it back in the long run then the question is going to switch up and start talking about externalities either positive or negative externality... so I think it's perfect competition and externalities on question one

1 year ago Pending

FRQ Question 1 on the AP Microeconomics exam will cover perfect competition (short-run profit/loss, long-run adjustment) and externalities (positive/negative, allocative efficiency, socially optimal, deadweight loss, graph drawing).

this year on set one I think you're going to see sideb side graphs for perfect competition so drawing a profit or a loss in the short run and the next part of the question is going to ask you about putting it back in the long run then the question is going to switch up and start talking about externalities either positive or negative externality... so I think it's perfect competition and externalities on question one

Pending

The in-person workshops will shift their focus to teaching strategies and conducting hands-on activities.

my workshops are going to focus on strategies and running Hands-On activities

1 year ago Pending

The in-person workshops will shift their focus to teaching strategies and conducting hands-on activities.

my workshops are going to focus on strategies and running Hands-On activities

Pending

The author will continue to conduct in-person workshops during the summer, but their format and focus will change.

I'm still going to do my in-person workshops during the summer but those are going to change too

1 year ago Pending

The author will continue to conduct in-person workshops during the summer, but their format and focus will change.

I'm still going to do my in-person workshops during the summer but those are going to change too

Pending

The author will host exclusive live webinars throughout the year to answer teacher questions.

I'm making exclusive live webinars throughout the year so I can answer your questions

1 year ago Pending

The author will host exclusive live webinars throughout the year to answer teacher questions.

I'm making exclusive live webinars throughout the year so I can answer your questions

Pending

The 2024 AP Micro free response questions would cover perfect competition, negative externality, utility maximization with elasticity, and perfectly competitive resource market.

I thought it was going to be perfect competition with a negative actionality utility maximizing with elasticity and perfectly competitive resource market

1 year ago Pending

The 2024 AP Micro free response questions would cover perfect competition, negative externality, utility maximization with elasticity, and perfectly competitive resource market.

I thought it was going to be perfect competition with a negative actionality utility maximizing with elasticity and perfectly competitive resource market

Pending

The speaker will host a live review session the night before the upcoming exam.

the next time I'm going to see you is on the live review session I'm doing the night before the exam

1 year ago Pending

The speaker will host a live review session the night before the upcoming exam.

the next time I'm going to see you is on the live review session I'm doing the night before the exam

Pending

The speaker predicts the College Board will not include a free response question specifically on ample and limited reserves and the reserve market on the upcoming exam.

if and I don't think they will but if they ask a free response question on ample and limited reserves and the reserve Market on the free response this year it's going to look something like this

1 year ago Pending

The speaker predicts the College Board will not include a free response question specifically on ample and limited reserves and the reserve market on the upcoming exam.

if and I don't think they will but if they ask a free response question on ample and limited reserves and the reserve Market on the free response this year it's going to look something like this

Pending

It is unlikely the upcoming AP Macroeconomics exam will feature a free response question specifically on ample and limited reserves or the reserve market.

I don't think they will but if they ask a free response question on ample and limited reserves and the reserve Market on the free response this year

1 year ago Pending

It is unlikely the upcoming AP Macroeconomics exam will feature a free response question specifically on ample and limited reserves or the reserve market.

I don't think they will but if they ask a free response question on ample and limited reserves and the reserve Market on the free response this year

Pending

The College Board will ask only one or two questions on macroeconomics unit 4 (limited/ample reserves and the reserve market) on the upcoming exam, and it will not constitute the entire exam.

the College Board might ask you one or two questions but it's not going to be the entire exam

1 year ago Pending

The College Board will ask only one or two questions on macroeconomics unit 4 (limited/ample reserves and the reserve market) on the upcoming exam, and it will not constitute the entire exam.

the College Board might ask you one or two questions but it's not going to be the entire exam

Pending

The College Board will include only one or two questions on the new macroeconomics unit 4 topics (limited/ample reserves, reserve market) on the upcoming AP exam, and these topics will not dominate the exam.

the College Board might ask you one or two questions but it's not going to be the entire exam

1 year ago Pending

The College Board will include only one or two questions on the new macroeconomics unit 4 topics (limited/ample reserves, reserve market) on the upcoming AP exam, and these topics will not dominate the exam.

the College Board might ask you one or two questions but it's not going to be the entire exam

Pending

Students using the 'quick and dirty' method are predicted to be able to calculate comparative advantage in under 5 seconds.

I bet you could find compare advantage in less than 5 seconds

1 year ago Pending

Students using the 'quick and dirty' method are predicted to be able to calculate comparative advantage in under 5 seconds.

I bet you could find compare advantage in less than 5 seconds

Pending

The third AP Macroeconomics FRQ will involve calculating nominal or real GDP and the GDP deflator from given products. It will also include a question on fiscal policy, requiring the calculation of the maximum change in spending from an initial change in government spending using the spending multiplier.

I think it's going to focus on calculating GDP and the GDP deflator so a question when they give you some products you have to actually calculate the nominal or the real GDP then I think they're going to switch over and talk about fiscal policy and maybe as a question we have to actually calculate the maximum change in spending from the initial change in government spending so make sure you know how to use that spending multiplier

1 year ago Pending

The third AP Macroeconomics FRQ will involve calculating nominal or real GDP and the GDP deflator from given products. It will also include a question on fiscal policy, requiring the calculation of the maximum change in spending from an initial change in government spending using the spending multiplier.

I think it's going to focus on calculating GDP and the GDP deflator so a question when they give you some products you have to actually calculate the nominal or the real GDP then I think they're going to switch over and talk about fiscal policy and maybe as a question we have to actually calculate the maximum change in spending from the initial change in government spending so make sure you know how to use that spending multiplier

Pending

The second AP Macroeconomics FRQ will focus on foreign exchange, including drawing related graphs, explaining the impact of a change in real interest rates, and discussing the balance of payments (specifically how a higher real interest rate affects the capital and financial account) and the effect of currency appreciation on net exports.

I think Fe response number two is going to focus on Foreign Exchange so drawing the graph and explaining what's going to happen when there's a change in real interest rate on the graph that you drew in a then they're going to ask about the balance of payments and how a higher real interest rate would cause the capital and financial account to move towards a surplus and they're going to finish it off by saying if the currency appreciates how is that going to affect net exports

1 year ago Pending

The second AP Macroeconomics FRQ will focus on foreign exchange, including drawing related graphs, explaining the impact of a change in real interest rates, and discussing the balance of payments (specifically how a higher real interest rate affects the capital and financial account) and the effect of currency appreciation on net exports.

I think Fe response number two is going to focus on Foreign Exchange so drawing the graph and explaining what's going to happen when there's a change in real interest rate on the graph that you drew in a then they're going to ask about the balance of payments and how a higher real interest rate would cause the capital and financial account to move towards a surplus and they're going to finish it off by saying if the currency appreciates how is that going to affect net exports

Pending

The first AP Macroeconomics Free Response Question (FRQ) will cover aggregate demand and supply, showing a negative output gap, followed by a long-run self-adjustment explanation. It will also include questions on monetary policy, requiring drawing the money market graph and explaining policies based on ample or limited reserves.

The first for response is going to be aggregate demand Supply showing a negative output Gap. They're going to have you draw the graph in part A and then in B explain what's going to happen if there's no policy and there's a long run self adjustment we're going to talk about monetary policy how do you draw the money market graph and explain if there's ample reserves or limited reserves what policy would work

1 year ago Pending

The first AP Macroeconomics Free Response Question (FRQ) will cover aggregate demand and supply, showing a negative output gap, followed by a long-run self-adjustment explanation. It will also include questions on monetary policy, requiring drawing the money market graph and explaining policies based on ample or limited reserves.

The first for response is going to be aggregate demand Supply showing a negative output Gap. They're going to have you draw the graph in part A and then in B explain what's going to happen if there's no policy and there's a long run self adjustment we're going to talk about monetary policy how do you draw the money market graph and explain if there's ample reserves or limited reserves what policy would work

Pending

President Milei predicts that if Western countries adopt policies that hinder free markets, free competition, free price systems, trade, or attack private property, their only possible fate will be poverty.

we are here to warn you about what can happen if the countries in the western world that became Rich through the model of Freedom stay on this path of servitude... if measures are adopted that hinder the free function of markets free competition free Price systems If You Hinder trade if you attack private property the only possible fate is poverty

2 years ago Pending

President Milei predicts that if Western countries adopt policies that hinder free markets, free competition, free price systems, trade, or attack private property, their only possible fate will be poverty.

we are here to warn you about what can happen if the countries in the western world that became Rich through the model of Freedom stay on this path of servitude... if measures are adopted that hinder the free function of markets free competition free Price systems If You Hinder trade if you attack private property the only possible fate is poverty

Pending

The third FRQ will focus on calculating nominal or real GDP and the GDP deflator, followed by questions on fiscal policy, including calculating the maximum change in spending using the spending multiplier.

I think it's going to focus on calculating GDP and the GDP deflator so a question when they give you some products you have to actually calculate the nominal or the real GDP then I think they're going to switch over and talk about fiscal policy and maybe as a question we have to actually calculate the maximum change in spending from the initial change in government spending so make sure you know how to use that spending multiplier

1 year ago Pending

The third FRQ will focus on calculating nominal or real GDP and the GDP deflator, followed by questions on fiscal policy, including calculating the maximum change in spending using the spending multiplier.

I think it's going to focus on calculating GDP and the GDP deflator so a question when they give you some products you have to actually calculate the nominal or the real GDP then I think they're going to switch over and talk about fiscal policy and maybe as a question we have to actually calculate the maximum change in spending from the initial change in government spending so make sure you know how to use that spending multiplier

Pending

The second FRQ will focus on foreign exchange, requiring drawing the graph, explaining the effect of real interest rate changes, discussing how a higher real interest rate impacts the capital and financial account (surplus), and how currency appreciation affects net exports (decreases).

I think Fe response number two is going to focus on Foreign Exchange so drawing the graph and explaining what's going to happen when there's a change in real interest rate on the graph that you drew in a then they're going to ask about the balance of payments and how a higher real interest rate would cause the capital and financial account to move towards a surplus and they're going to finish it off by saying if the currency appreciates how is that going to affect net exports the answer is would decrease right if the currency appreciates other countries are going to buy less of your stuff

1 year ago Pending

The second FRQ will focus on foreign exchange, requiring drawing the graph, explaining the effect of real interest rate changes, discussing how a higher real interest rate impacts the capital and financial account (surplus), and how currency appreciation affects net exports (decreases).

I think Fe response number two is going to focus on Foreign Exchange so drawing the graph and explaining what's going to happen when there's a change in real interest rate on the graph that you drew in a then they're going to ask about the balance of payments and how a higher real interest rate would cause the capital and financial account to move towards a surplus and they're going to finish it off by saying if the currency appreciates how is that going to affect net exports the answer is would decrease right if the currency appreciates other countries are going to buy less of your stuff

Pending

The first FRQ will cover aggregate demand/supply showing a negative output gap, requiring drawing the graph, explaining long-run self-adjustment without policy, and discussing monetary policy with the money market graph, differentiating between ample and limited reserves.

The first for response is going to be aggregate demand Supply showing a negative output Gap they're going to have you draw the graph in part A and then in B explain what's going to happen if there's no policy and there's a long run self adjustment we're going to talk about monetary policy how do you draw the money market graph and explain if there's ample reserves or limited reserves what policy would work

1 year ago Pending

The first FRQ will cover aggregate demand/supply showing a negative output gap, requiring drawing the graph, explaining long-run self-adjustment without policy, and discussing monetary policy with the money market graph, differentiating between ample and limited reserves.

The first for response is going to be aggregate demand Supply showing a negative output Gap they're going to have you draw the graph in part A and then in B explain what's going to happen if there's no policy and there's a long run self adjustment we're going to talk about monetary policy how do you draw the money market graph and explain if there's ample reserves or limited reserves what policy would work

Pending

On this year's AP Macro FRQ, it is more likely there will be a question on the general ideas of ample/limited reserves than a request to draw the reserve market graph.

now you might have to draw this graph on the fa response this year but it's more likely you're going to see a question on one of these General ideas instead

1 year ago Pending

On this year's AP Macro FRQ, it is more likely there will be a question on the general ideas of ample/limited reserves than a request to draw the reserve market graph.

now you might have to draw this graph on the fa response this year but it's more likely you're going to see a question on one of these General ideas instead

Pending

FRQ #3 on the 2024 AP Microeconomics exam will cover perfectly competitive labor markets and firms, including marginal revenue product calculations to determine workers hired, related graphs, and the impact of minimum wage or other market changes on MRP.

and for free response number three I think they're going to pull from unit five with a perfect competitive labor market and firm so either a chart we have to calculate the marginal revenue product and find out how many workers to hire or the graph showing the same concept also inside there I think they're going to work in a minimum wage or something's going to happen in the market that affects the price and therefore the MRP

1 year ago Pending

FRQ #3 on the 2024 AP Microeconomics exam will cover perfectly competitive labor markets and firms, including marginal revenue product calculations to determine workers hired, related graphs, and the impact of minimum wage or other market changes on MRP.

and for free response number three I think they're going to pull from unit five with a perfect competitive labor market and firm so either a chart we have to calculate the marginal revenue product and find out how many workers to hire or the graph showing the same concept also inside there I think they're going to work in a minimum wage or something's going to happen in the market that affects the price and therefore the MRP

Pending

The author will post a new video in a few days (from 2024-04-16) analyzing free responses for AP Microeconomics and AP Macroeconomics.

now in a few days I'm going to post a new video breaking down the free responses for micro and macro so stay tuned

1 year ago Pending

The author will post a new video in a few days (from 2024-04-16) analyzing free responses for AP Microeconomics and AP Macroeconomics.

now in a few days I'm going to post a new video breaking down the free responses for micro and macro so stay tuned

Pending

FRQ #2 on the 2024 AP Microeconomics exam will cover utility maximization (finding optimal consumption with an income constraint) and calculating elasticity of demand or supply coefficients.

I think question two is going to be on utility maximizing a question like this they'll give you the total utility for consuming two different products and an income constraint and you have to find the right combination to maximize utility from there they're going to switch the question and ask you about elasticity and calculating the elasticity to demand or Supply coefficient so for question two I think maximizing utility and elasticity

1 year ago Pending

FRQ #2 on the 2024 AP Microeconomics exam will cover utility maximization (finding optimal consumption with an income constraint) and calculating elasticity of demand or supply coefficients.

I think question two is going to be on utility maximizing a question like this they'll give you the total utility for consuming two different products and an income constraint and you have to find the right combination to maximize utility from there they're going to switch the question and ask you about elasticity and calculating the elasticity to demand or Supply coefficient so for question two I think maximizing utility and elasticity

Pending

The AP exam's multiple-choice section will cover nearly all topics, but certain topics will have more questions than others.

yes the multiple choice section will ask questions on almost every single one of the topics but some topics going to have more questions

1 year ago Pending

The AP exam's multiple-choice section will cover nearly all topics, but certain topics will have more questions than others.

yes the multiple choice section will ask questions on almost every single one of the topics but some topics going to have more questions

Pending

FRQ #1 on the 2024 AP Microeconomics exam will cover side-by-side graphs for perfect competition (short-run profit/loss and long-run adjustment) and externalities (positive/negative, allocative efficiency, socially optimal, deadweight loss graphs).

this year on set one I think you're going to see sideb side graphs for perfect competition so drawing a profit or a loss in the short run and the next part of the question is going to ask you about putting it back in the long run then the question is going to switch up and start talking about externalities either positive or negative externality saying assume instead there's an externality where is allocatively efficient or where is the socially optimal or dead weight loss or having you draw that graph so I think it's perfect competition and externalities on question one

1 year ago Pending

FRQ #1 on the 2024 AP Microeconomics exam will cover side-by-side graphs for perfect competition (short-run profit/loss and long-run adjustment) and externalities (positive/negative, allocative efficiency, socially optimal, deadweight loss graphs).

this year on set one I think you're going to see sideb side graphs for perfect competition so drawing a profit or a loss in the short run and the next part of the question is going to ask you about putting it back in the long run then the question is going to switch up and start talking about externalities either positive or negative externality saying assume instead there's an externality where is allocatively efficient or where is the socially optimal or dead weight loss or having you draw that graph so I think it's perfect competition and externalities on question one

Pending

The widespread adoption of dynamic pricing in the fast-food industry is contingent on positive customer reception to Wendy's implementation; successful acceptance will lead to more widespread adoption, while failure will limit its prevalence.

customers are okay with it you'll see more of it and if Wendy's test doesn't work for whatever reason you might not see it that often

2 years ago Pending

The widespread adoption of dynamic pricing in the fast-food industry is contingent on positive customer reception to Wendy's implementation; successful acceptance will lead to more widespread adoption, while failure will limit its prevalence.

customers are okay with it you'll see more of it and if Wendy's test doesn't work for whatever reason you might not see it that often

Pending

If a fast-food restaurant successfully implements dynamic pricing to lower prices, competitors will follow suit, leading to no net increase in sales for the initial restaurant.

if that policy really works then other restaurants are also going to lower the prices and that's not going to lead to more sales

2 years ago Pending

If a fast-food restaurant successfully implements dynamic pricing to lower prices, competitors will follow suit, leading to no net increase in sales for the initial restaurant.

if that policy really works then other restaurants are also going to lower the prices and that's not going to lead to more sales

Pending

A strategy by Wendy's to use dynamic pricing to lower prices and undercut competitors is predicted to be ineffective.

they couldn't try to lower prices to undercut their competitors but that's probably not going to work either

2 years ago Pending

A strategy by Wendy's to use dynamic pricing to lower prices and undercut competitors is predicted to be ineffective.

they couldn't try to lower prices to undercut their competitors but that's probably not going to work either

Pending

It is unlikely Wendy's will be able to effectively raise prices through dynamic pricing in markets where customers have numerous alternative fast-food options.

if customers have a lot of options which they usually do it's unlikely that Wendy's could effectively raise prices

2 years ago Pending

It is unlikely Wendy's will be able to effectively raise prices through dynamic pricing in markets where customers have numerous alternative fast-food options.

if customers have a lot of options which they usually do it's unlikely that Wendy's could effectively raise prices

Pending

Dynamic pricing will be profitable for fast-food restaurants in locations where location is the primary driver of demand (e.g., near stadiums, in small airports), allowing them to successfully raise prices during peak hours.

if it's all about the location then Dynamic pricing will be profitable for example restaurants across the street from stadiums or in small airports can raise prices in peak hours

2 years ago Pending

Dynamic pricing will be profitable for fast-food restaurants in locations where location is the primary driver of demand (e.g., near stadiums, in small airports), allowing them to successfully raise prices during peak hours.

if it's all about the location then Dynamic pricing will be profitable for example restaurants across the street from stadiums or in small airports can raise prices in peak hours

Pending

Consumers are not expected to pay higher prices for the same fast-food items they previously purchased for less under a dynamic pricing model.

I don't think anyone's going to pay extra for the exact same thing that they were getting for Less

2 years ago Pending

Consumers are not expected to pay higher prices for the same fast-food items they previously purchased for less under a dynamic pricing model.

I don't think anyone's going to pay extra for the exact same thing that they were getting for Less

Pending

If consumers react negatively to Wendy's dynamic pricing policy, perceiving it as exploitative, they will switch to competing fast-food restaurants nearby.

if customers don't like this policy and they feel like they're getting ripped off they're just going to go to other restaurants which are usually right next door

2 years ago Pending

If consumers react negatively to Wendy's dynamic pricing policy, perceiving it as exploitative, they will switch to competing fast-food restaurants nearby.

if customers don't like this policy and they feel like they're getting ripped off they're just going to go to other restaurants which are usually right next door

Pending

The speaker predicts that the topic of GDP components will be on the students' next exam, with at least two or three questions.

I guarantee your teacher Professor is going to add to your next exam there's going to be at least two or three questions on it

2 years ago Pending

The speaker predicts that the topic of GDP components will be on the students' next exam, with at least two or three questions.

I guarantee your teacher Professor is going to add to your next exam there's going to be at least two or three questions on it

Pending

Wendy's dynamic pricing strategy of lowering prices to undercut competitors is unlikely to work.

they could try to lower prices to undercut their competitors but that's probably not going to work either

2 years ago Pending

Wendy's dynamic pricing strategy of lowering prices to undercut competitors is unlikely to work.

they could try to lower prices to undercut their competitors but that's probably not going to work either

Pending

Wendy's is unlikely to effectively raise prices using dynamic pricing.

it's unlikely that Wendy's could effectively raise prices

2 years ago Pending

Wendy's is unlikely to effectively raise prices using dynamic pricing.

it's unlikely that Wendy's could effectively raise prices

Pending