Business, 31.07.2021 01:50 cxttiemsp021

In the early 1970s, inflation was hitting the U. S. economy, and one of the results was that beef prices began to rise to record levels. Some of President Richard Nixon's advisers urged him to place price controls on the sale of beef cattle with the intended purpose being to hold down the price of cattle. If cattle prices were kept from rising, the advisers reasoned, then beef prices also would not rise. (The president did not follow their recommendations, but he did place overall wage and price controls on the economy for a while.) Had the president implemented this recommendation of price controls on beef cattle, would that action have resulted in lower beef prices

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In the early 1970s, inflation was hitting the U. S. economy, and one of the results was that beef pr...

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