I Many Business and Economic Time Series Have a Recurring

Multiple Choice

i. Many business and economic time series have a recurring seasonal pattern.
ii. One component of a time series is cyclical variation. An example of cyclical variation is the business cycle that consists of periods of prosperity followed by periods of recession, depression, and recovery.
iii. Episodic and residual variations can be projected into the future.

A) (i) , (ii) , and (iii) are all correct statements.
B) (i) and (ii) are correct statements but not (iii) .
C) (i) and (iii) are correct statements but not (ii) .
D) (ii) and (iii) are correct statements but not (i) .
E) (i) , (ii) , and (iii) are all false statements.