wage and price ... | engleski leksikon

1. wage and price controls


Government directives freezing or limiting wages and prices, usually in time of emergency, such as wars or in the event of severe inflation.
The use of such controls in the US has been relatively rare, the strongest control occurring during World War II. Under President Nixon, wages and prices were frozen for 90 days in 1971. Since then, presidents have preferred to use persuasion rather than impose controls.

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