In a time series, an oscillatory movement in which one complete period lasts more than a year is called the
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Cyclical component
The cyclical component is an up-and-down (oscillatory) movement of the series whose period is more than one year; one complete period is called a cycle. Booms and depressions in business are a common example.
The seasonal component also repeats, but its period is within one year; the trend is a long-term movement in one direction, and irregular changes do not repeat at all.