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Cyclical Variation
Fluctuations in statistical or economic data that occur periodically over cycles, such as those caused by the business cycle.
Economic Recession
A period of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in GDP in two successive quarters.
Inflation
The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.
Random Variation
The variability in data that arises due to chance and cannot be attributed to any specific cause or pattern.
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