Beginning in 1971, the Nixon administration enacted a series of price controls in hopes of reducing inflation. The first of these, known as Phase I,
A) consisted of a complete price freeze.
B) imposed a ceiling price on meat, but left other prices unregulated.
C) froze wages, but left other prices unregulated.
D) applied only to oil prices.

Question

Beginning in 1971, the Nixon administration enacted a series of price controls in hopes of reducing inflation.  The first of these, known as Phase I,
A) consisted of a complete price freeze.
B) imposed a ceiling price on meat, but left other prices unregulated.
C) froze wages, but left other prices unregulated.
D) applied only to oil prices.

Quizplus · Accepted Answer

The Answer is A

Beginning in 1971, the Nixon Administration Enacted a Series of Price