TheNixon shockwas a series of economic measures undertaken byPresidentRichard Nixonin 1971, in response to increasing inflation. The
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The"Nixon shock"was a series of economic measures undertaken byPresidentRichard Nixonin 1971, in response to increasing inflation. The big news was the imposition of a 90-day freeze on wages and prices in order to slow down the nation's inflation spiral - it was the first time the U.S. government had enacted wage and price controls since World War II. explain what you reckon would have happened to the rate of inflation and income after the 90-day period ended.
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