Author Question: In the United States, presidential elections occur every four years. If a political business cycle ... (Read 87 times)

stephzh · **on:** Jun 30, 2018

In the United States, presidential elections occur every four years. If a political business cycle exists in the United States, in which year of a presidential term, all else fixed, would we expect output growth to be lowest?

A) the first or second year
B) the second or third year
C) the third or fourth year
D) the fourth year

Question 2

The evidence shows that, over the last 25 years, spending on research and development in the rich countries has

A) decreased dramatically.
B) decreased slightly.
C) remained constant.
D) increased in absolute numbers, but decreased as a percentage of GDP.
E) increased as a percentage of GDP.