If a major hurricane exerts an impact on the economy,that event could be classified as a(n)________.
A)secular trend
B)episodic variation
C)residual variation
D)seasonal variation

Question

Quizplus · Accepted Answer

A major hurricane is an unpredictable and isolated event that affects the economy in the short-term. This aligns with the definition of an episodic variation, which refers to unforecastable shocks that cause temporary fluctuations in economic activity. Secular trends represent long-term changes in the economy, residual variations refer to fluctuations that cannot be explained by known factors, and seasonal variations occur regularly at specific times of the year.

If a Major Hurricane Exerts an Impact on the Economy,that