The answers to the practice multiple-choice questions are below. Just click on "Read more". 1. C 2. C 3. B 4. B Need more practice?, Get the Ultimate Review Packet. It is 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

My class spends 2 hours for this and here he is, making it to 6 and a half mins. Thank you very much

You must be aware that you are saver of billions of students. Got 100 from my final exam and your videos are magnificent Greetings from Azerbaijan😊

1. C, (A): period of unemployment is to long, (B): Full time students aren't employed, (C) Frictianl Unemployment, (D): retired so they aren't counted towards labor force, (E) is employed 2. C, (A,D,E) not enough info to back up claims, 40/800 =0.05 *100 = 5% unemployment, (B) 800(Labor force)/820( able body workers ) =0.97*100= 97% not 76% 3. B, Everything is accounted for besides those who are discoruaged workers as they aren't counted toward unemployment. 4. B, Natural rate of unemployment is when there is not reccestion a.k.a. cyclical unemploymet Might be wrong so type in corrections :)

Been watching you since my senior year in high school. Now I have a BS in economics and BA in Poli Sci. My econ masters program got suspended for a year. But hey even more than 5 years later im still here.

Thanks Mr. Clifford! I watched your videos when I was 17 in high school. I’m 27 now and still learning from your lessons. You’re a game changer!!

Finishing my degree after a 15 yr break. It's been a challenge learning again. You make it fun and easy to understand. Thank you!

5 years later and you are still the greatest explainer in KZfaq history

I’m an accounting student and have always disliked learning econ, and now I know it’s because I never understood them. Thanks to your videos, I’m spending hours watching them now and I totally get it or at least know what to look up. Thank you!!!

You are one of the few people who make a great impact on my life... I cannot thank you enough...!!!

If only there was a Jacob Clifford for Chemistry...

Great work man! I love your review packet. Bless ya!

Graduated in April and still watch because it’s entertaining and I’m learning lol

Not studying economics right now, but I love to watch these videos.

WOW, you dont realise how helpful you are....Thank you

My new fav youtube channel. Thanks needed this!

learned more from this 6-7 mins of video than an hour of lecture that I pay for!!!!

I’m only passing economics because of you! Thank you

I love your videos...short and easy to grasp😎

Lmao he used a dumpster fire to represent 2020😂

Thank you for this video ,it helped A LOT !!

Thank you very much mr Jacob You help me understand in a simple and easy way

Last school year I was in sophomore, got the packet for micro and aced the exam. Thank you 🙏 Mister Clifford!!

Thank you so much I’m now 3 hours away from my Macros ECON final exam

Thank you so much for your great explanation

Thanks for making these videos!! :)

you don't age!!! Thank you so much for these videos

idk what id do without you

Salute you from India

Like you always🥰 great content

I have subscribed to your channel and purchased both your macro and micro ultimate review packets, THEY ARE SOOOOO HELPFUL, honestly I wish you were my professor. I was wondering, do you have any videos on the Investment-Savings curve??

Forgive me if I'm wrong but I think one big overview point is that when the labour rate hits that frictional zone and stays there that another thing that keeps it from going to zero is new people reentering the labour force due to increased wages from a shortage of labour which ties into supply/demand

You are a life saver

Structural Unemployment: Changes in the structure of the labor force make some skills obsolete, workers do not have transferable skills and these jobs will never come back Frictional Unemployment: Workers are temporarily unemployed or between jobs, individuals are qualified workers with transferable skills but are not working Natural rate of Unemployment: The amount of unemployment that exists when the economy is health, when there is only frictional and structural unemployment Cyclical Unemployment: The result of an economic downturn or recession, as demand for goods and services falls, the demand for labor falls and workers are laid off

I never went to college and I’ve been watching his videos for about a month now

Hey, professor Jacob Clifford, I've learned a great deal from your videos, I'm an Econ major but I'm considering changing to a Business in economics any insights on that? I'd appreciated it.

Yes you did teach me a lot But already liked and subscribe So lets settle for comment 😁

Thank you ❤

Sir g great

You are great!

Great visuals. I wish videos today taught like you. Economics is like math= people that teach use big words and love to make you feel dumb.

this made me feel a lot better about myself! Lol.

The informal sector employment also could make the numbers look bright when its actually not. And in some cases people have migrated back to villages leaving their previous jobs due to lockdown and they desperately seek for some alternate employment or self employment.

You save my life

Thanks mate :)

We did a PPC graph in Macroeconomics today regarding unemployment. I was wondering where you would put the point on the chart if unemployment was high but jobs weren’t available. You pretty much answered that with structural unemployment being configured in the natural rate of unemployment. With that being said, I’m guessing you can only put unemployment on a PPC graph as Labor Force only. I was asking my teacher where we would put natural unemployment rate at on the PPC in regards to automation/no jobs available due to advances in technology- requiring fewer workers/not the right skillset, and she didn’t really give an answer. I was confused, she just said that was a microeconomics topic. I guess if it was on the PPC it would be on the outside of the PPC, right?

Answer of 1st question is C

that 'hey internet" and the intro music really took me back to 2011

Man, i love you

Hello. Can i ask? What kind of condition would the unemployment rate be overestimated?

Mr. Clifford, then are frictional and structural unempolyment are regarded as 'voluntary unemployed'? Whereas cyclical unemployment is not voluntary?

“Unemployment is of vital importance, particularly to the unemployed.” - Edward Heath, former PM of UK

gooooooood

my head exploded before he talked... I don't think I have ever seen the thing in his show

Hey do u still make videos at crash course ?

the office references and gifs make this so much more interesting ahahhaahahahaha

Wait, what about when the resturant owners brought their servers back to work because people started eating at resturants again outdoors?

First like yehey

Do you give private online tutoring for business student?

Just for a review can anyone tell if in the Q2 labor force participation rate is counted like this? 160+600/1000-20 (100)

Mr. Cliford, In question 1 "how come Pat who recently left a job to look for a different job in another town is considered officially employed? Shouldn't it be " Lee who is working for 20 hrs per week and is seeking full-time employment?

how is 2c?

B, thanks I'm 11 trying to learn economics and it's hard (answer to the pop quiz) ❤

fire

Sir if you cover UPSC Syllabus on INDIAN ECONOMY, you will get lots of likes and views

labour force -- ppl that are actively seeking for a job/have one. frictional un--> temporary unemployment when ppl switch jobs or enter the labour force. this type always exists as ppl always switch jobs and new always enter. structural un --> long-term un, as workers dont have right skills. tech improvement makes some jobs obsolete. this also always exists. these 2 make up the NRU (national rate of unemployment). --> the amt of unm existing even with economy doing great. cyclical un --> result of a downturn in economy. workers losing jobs due to recession. e.g. pandemic. ppl not going out to eat. owners lay off their cooks and servers, spike in umn.

I'm from Sri Lanka. I want videos about various approach of GDP

What are the answers to the 4 practice questions at the end? Is it CBBB?

1 C 2 C 3 B 4 B

2 thumbs up for the Tommy boy reference.

I don't know who you are but I'll find you and thank you

Tommy Boy Need to watch that movie

C = Leslie. Who retired after turning 65 only five month ago

The way unemployment is measured has changed since the 1930s so how much does that influence the numbers?

I used to watch "Tommy Boy" bi-monthly.

Got B,C,B, and B

Question #2 how do you get 40 unemployed people out of 1000 to = 5%? Am I missing some @jacob Clifford?

how long has that milk been there? it is in all the videos that have a brick wall behind him! is it a green screen behind him or is it real?

Are structurally unemployed discouraged workers?

Why is the natural unemployment rate and full employment basically the SAME thing?

your videos are super helpful! (lets not use the stay-at-home mom's as an example when talking about what doesn't count as the working population, it seemed like you were invalidating SAHMs)

who wants video on India economy hit like .

I've been looking for a means to get my life back on track since my divorce, my advice? start your own business. working for an organization is a waste of time. i started a day care during the covid crisis and now i have close to 400k in my savings account

So we're using Tommy boy and Fortnite to try to relate to the same generation? To help express information in a way that is more fun which could all be expressed in like half the time.... What is that called again? Negative externality cost?

6:07

Answer is E part

At what age did people learn this?

am i the only staring at the half gallon of milk just sitting on the back shelf? . . . . . .

ngantuk bang

Austin Powers : Mole. Bloody mole. We aren't supposed to talk about the bloody mole, but there's a bloody mole winking me in the face. I want to c-u-u-t it off, ch-o-o-p it off, and make guacamole.

With movement of population from unemployed to out of labour force will not increase the % or no. of Noninstitutional civilian population.... Please make it correct! @jacob Clifford

@4:40, "During the pandemic, people couldn't go out to eat" is very different than saying, "during the pandemic, Daddy Government wouldn't let you go out to eat"

can you please teach some indian economics you'll find millions of student from india.

Pat

I love cats if he does not have allergy to them I would like to see him hold one! it would be so cute! the cat would not like it though...

Ahhh unemployment... What politicians always talk about....

who else is here from the UK

Fortnitw

Please fix, theres no sound!😭😭

4:32 cyclical