Wesley Mitchell coined the concept of a cycle relative. What is a cycle relative?
A) The cycle relative is defined as the average of an economic series for one whole cycle.
B) The cycle relative is defined as the original data in a stage divided by the number of stages.
C) The cycle relative is defined as the original data in a stage divided by the cycle base.
D) The cycle relative is defined as the relative number of stages in a cycle.

Question

Quizplus · Accepted Answer

A cycle relative is a value obtained by dividing the original data in a given stage of a cycle by the cycle base. This allows for a comparison of different stages within a particular cycle, regardless of changes in the overall level of the series over time. Wesley Mitchell used this concept to analyze business cycles and identify patterns of economic growth and contraction.

Wesley Mitchell Coined the Concept of a Cycle Relative