1. Macroeconomics refers to the study of the whole economy and how it behaves. It is a branch of the field of economics which carefully examines various economy-wide phenomena like, inflation, price levels, national income, GDP (gross domestic product), growth rate, and changes in unemployment.
2. The time from one economic peak to another economic peak is called the economic cycle. Like a roller coaster ride, the economic cycle is more or less like a behavioral pattern in the economy that consist of both growing and shrinking phases
