The table shows the percentage difference between real and potential GDP and the rate of inflation for the years 2006 through 2010. If there were a presidential election in the year 2007, would these data support the view that there was a political business cycle during this period?
Definitions:
Capital-Labor Ratio
The ratio of the total value of capital equipment to the labor force, indicating the level of capital intensity in production processes.
Productivity Growth
The increase in the efficiency of production in an economy, typically measured as the output per hour worked.
Cumulative Power
Cumulative power refers to the total amount of energy generated or exerted over a period of time.
Capital Deepening
An increase in the amount of capital per worker, which typically leads to higher productivity.
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