Cyclical variations are longer than a year and are influenced by macroeconomic and political factors.

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Quizplus · Accepted Answer

Cyclical variations refer to fluctuations in economic activity that occur over a period of time longer than a year, typically driven by macroeconomic factors such as changes in interest rates, government spending, and international trade. These changes can also be influenced by political factors, such as changes in regulations, policies, and political stability.

Cyclical Variations Are Longer Than a Year and Are Influenced