What are the arguments in favor of wage and price controls, Microeconomics

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What are the arguments in favor of wage and price controls

Problem

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.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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