To combat the problem of stagflation in the 1970s, President Richard Nixon implemented a policy of wage and price controls. While Nixon's actions ultimately failed, they illustrate a larger point, which is that:
A) the Federal Reserve should not interfere with market forces.
B) the goal of full employment is easier to accomplish than controlling inflation.
C) Republican presidents have a consistently poor record of controlling inflation.
D) there is almost nothing that a president can do to affect the national economy.
E) Republicans are generally more concerned about inflation than full employment.
Correct Answer:
Verified
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