Rhythmic variation in economic series that is due to a pattern of expansion or contraction in the overall economy is called:
A)secular trend.
B)cyclical fluctuation.
C)irregular or random influences.
D)seasonal variation.

Question

Quizplus · Accepted Answer

Cyclical fluctuation refers to the variations in economic series due to expansion or contraction in the overall economy that occurs in a fairly regular pattern. This is different from secular trends, which reflect long-term shifts in the economy, irregular or random influences, which are unpredictable variations due to events such as natural disasters or political changes, and seasonal variation, which is a recurring pattern related to the time of year. Cyclical fluctuation refers to the pattern of expansion or contraction in the overall economy, leading to rhythmic variation in economic series. Secular trend refers to the long-term trend in an economic series, while irregular or random influences are unpredictable fluctuations in the series. Seasonal variation refers to the regular pattern of variation in economic series that is due to the season or time of year.

Rhythmic Variation in Economic Series That Is Due to a Pattern