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The study of the economy as a whole - Macroeconomics
Macroeconomics is one of the main branches of Economics, the other being Microeconomics. Macroeconomics studies aggregated economic variables like inflation, unemployment, or Gross Domestic Product, in the context of regional, national, or even the global economy.
An increase in the general price level for most goods and services - Inflation
Inflation is defined exactly as above. In other words, is the general increase in prices within an economy over a period of time. It has many causes, but is mainly related to the growth of money supply.
Consistent growth combined with low inflation - Macroeconomic equilibrium
If an economy is growing steadily, and has low inflation at the same time, it has achieved a optimal situation from a macroeconomic point of view. This is the ideal situation most countries in the world aspire to.
The type of unemployment experienced by students who have graduated and are looking for jobs - Frictional unemployment
Frictional unemployment is the type of unemployment when people are in between jobs, or when they have been looking for a job during a short period of time.
The type of unemployment that occurs when the economy is in a downturn - Cyclical unemployment.
Cyclical unemployment is the type of unemployment that responds to economic cycles, periods of growth or recession of an economy that are often repeated in more or less predictable patterns over time.
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