The ________ Component of a Time Series Measures the Fluctuations

question 155

Multiple Choice

The ________ component of a time series measures the fluctuations in a time series due to economic conditions of prosperity and recession with a duration of approximately 2 years or longer.

• A)Trend
• B)Seasonal
• C)Cyclical
• D)Irregular

---

Definitions:

Marginal Product

The additional output that is produced by adding one more unit of a specific input, while holding other inputs constant.

Average Product

In economics, the output produced per unit of input, used to measure productivity efficiency.

Marginal Product

The increase in output that results from a one-unit increase in the input, holding all other inputs constant.

Average Product

The output produced per unit of input, for example, the amount of goods produced per worker or per machine in a given time period.