What was the purpose of President Nixon's 90-day price and wage freeze in the early 1970s?
Crash Course: Price Controls

Interactive Video
•
Social Studies
•
9th Grade
•
Hard
Michelle Sharper
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To reduce unemployment
To fight inflation
To boost exports
To increase consumer spending
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a price ceiling?
A minimum price set by the government
A price set by consumers
A maximum price set by the government
A price set by producers
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when a price ceiling is set below the equilibrium price?
It creates a shortage
It increases production
It creates a surplus
It has no effect
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which country was used as an example of the negative effects of price ceilings on consumer products?
Venezuela
Mexico
Brazil
Argentina
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main argument against rent control according to economists?
It increases the quality of housing
It reduces the quantity and quality of housing available
It encourages new construction
It makes housing more affordable
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a price floor?
A maximum price set by the government
A minimum price set by the government
A price set by producers
A price set by consumers
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the main criticisms of agricultural subsidies?
They help poor farmers
They increase food production
They discourage innovation
They reduce food prices
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