cyclical fluctuation

Fig. 35 Cyclical fluctuation. The pronounced short-term swings in output growth rates over the course of the BUSINESS CYCLE, around a rising long-term trend growth line for the country's GROSS NATIONAL PRODUCT.

cyclical fluctuation

the short term movements, both upwards and downwards, in some economic variable around a long-term SECULAR TREND line.

See DEMAND MANAGEMENT.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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