Richard Nixon's "new economic policy" mandated a 90-day freeze on any increase in wages and prices, to be followed by government monitoring to detect excessive increases in either.

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This statement is true. Nixon announced the "new economic policy" on August 15, 1971, which included a 90-day freeze on wages and prices, as well as other measures such as import surcharges and the end of the gold standard. The purpose of the freeze was to help combat inflation and stabilize the economy. After the freeze, the government continued to monitor prices and wages to prevent excessive increases.

Richard Nixon's "New Economic Policy" Mandated a 90-Day Freeze on Any