In relation to the uk economy explain, briefly but accurately, what is meant by the following twelve terms

1. unemployment
1.1 the natural rate of unemployment
1.2 underemployment

2. inflation
2.1 retail price index
2.2 consumer price index

3. Economic Growth
3.1 Gross Domestic product
3.2 Recession

4 The balance of payments
4.1 A trade deficit
4.2 The rate of exchange