Market Failures, Taxes, and Subsidies: Crash Course Economics

The video introduces macroeconomics, focusing on GDP, unemployment, and inflation as key economic indicators. It explains the importance of understanding these concepts to make informed decisions. The video also discusses the business cycle, the role of government in economic stability, and the limitations of GDP as a measure of economic health. It concludes with a preview of future topics.

What are the three types of unemployment mentioned in the video?

How does inflation affect purchasing power?

What is the business cycle and what does it describe?

What role do economists believe the government should play in the economy?