Problem
Between 1960 and 1972, the rate of unemployment declined by an average of 0.3 percent during presidential election years. In contrast, it rose by 0.3 percent during nonelection periods. The average rate of inflation during the year following a presidential election was 4.4 percent, compared to an average of 3.0 percent during the preceding three-year periods. Assuming that expansionary macro policy affects employment 12 to 18 months before it affects inflation, discuss the consistency of these data with the hypothesis that political entrepreneurs are vote maximizers.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.