Question
Thinking about the difference between the trend and the business cycle component of an economic time series, select the answer that best completes the following
Thinking about the difference between the trend and the business cycle component of an economic time series, select the answer that best completes the following sentence: The trend component corresponds to
a) the actual observed data
b) a smooth fit to the data
c) an estimate of what the data would be if a proposed policy was implemented
d) the deviation from a smooth fit to the data
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Microeconomics
Authors: Robert S. Pindyck, Daniel L. Rubinfeld
7th edition
8131725995, 8131725993, 978-8131725993
