What are the arguments in favor of wage and price controls

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Reference no: EM131482650

Question: 1. The price level was roughly constant in 1954-1955, but the unemployment rate fell. Use AD-AS analysis to explain what must have occurred during this period.

2. What are the arguments in favor of wage and price controls? Is the argument for wage and price controls stronger when inflation is caused by cost push forces? Explain your reasoning.

Reference no: EM131482650

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