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What do wage-price controls do?

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Answered 2 months ago
Answered 2 months ago

Every period of inflation might be caused by wage-price spiral. So, wage-price controls can be defined as policies, regulations and tools that makes it illegal for companies to give raises or raise prices without government permission. Wage-price controls are tools that helps to control on inflation. President Richard Nixon attempted to stop inflation by using these wage-price controls.

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