The systematic and permanent differences in macroeconomic outcomes that differ by political party are known as ________ business cycles.

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Partisan business cycles refer to the differences in macroeconomic outcomes depending on the political party in power. This can be seen in changes in fiscal policy, monetary policy, and regulatory policies, all of which can have an impact on economic growth, inflation, and unemployment. Electoral cycles refer to the economic fluctuations that typically occur during the election cycle itself, as policymakers may implement policies to boost economic growth and employment in order to gain favor with voters. Real and nominal cycles refer to the fluctuations in the overall level of economic activity and prices, regardless of political factors.

The Systematic and Permanent Differences in Macroeconomic Outcomes That Differ