Prior to elections, government often pursues policies that stimulate the econ¬ omy, such as increasing government purchases or increasing the money supply. For example, it is claimed that in the United States, real output tends to rise just before presidential elections and to decline after those elections. Some analysts claim this is due to expansionary policy actions undertaken by incumbent presidents who are trying to get reelected or to get their parties’ nominees elected. This phenomenon has been called the political business cycle. Describe how our model of aggregate demand and supply can explain how this political business cycle works.