The initial success of the Kennedy-Johnson wage and price guidelines was diminished considerably during the late 1960s mainly because
A) labor markets tightened in response to the Vietnam buildup.
B) the Council of Economic Advisers was opposed to them.
C) the guidelines had no real administrative backing.
D) they had fulfilled their purpose and were no longer needed.
E) they were favored only by labor unions.
Correct Answer:
Verified
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