In the context of time series,a cyclical effect differs from a seasonal effect in that the cyclical effect ________.

A) shows a gradual shift in the time series
B) does not show a gradual shift in the time series
C) relates to much longer-term behavior
D) relates to much shorter-term behavior

Cyclical Effect

A pattern of fluctuations observed in economic or business activities corresponding to the phases of the business cycle, such as expansion, peak, contraction, and trough.

Seasonal Effect

A periodic effect that recurs or fluctuates in a predictable pattern over a year due to the change in seasons.

Time Series

A sequence of data points collected or recorded at successive time intervals, often analyzed to identify trends, cycles, and forecasts.