President Nixon Issued Wage-Price Controls in an Effort to Stabilize

question 43

Multiple Choice

President Nixon issued wage-price controls in an effort to stabilize the economy.This use of executive power was:

• A)an illegal usurpation of legislative powers which belong to the Congress.
• B)a valid use of power,known as an executive order.
• C)a valid use of power creating a treaty.
• D)an illegal usurpation of the regulatory powers of administrative agencies.

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Definitions:

Standard of Living

A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Productivity

The measure of the efficiency of production, often defined as the ratio of output produced to inputs used.

Net Exports

The value of a country's total exports minus its total imports, reflecting the balance of trade.

Capital Deepening

An increase in the amount of capital per worker; one source of rising labor productivity.