He focused on the inflation rate. He concentrated on mandatory price controls.
This covered rent, wages and other prices as a solution to resolve the
inflation. This also enabled the dollar to float compared to other
currencies. Unfortunately it had a
negative response to businessmen as it resulted in food shortages. The inflation also returned which meant that
the solutions were a failure.
In the 1970s, the supply of gas was affected by price controls imposed by the Nixon administration and then by an oil embargo by Arab members of the Organization of Petroleum Exporting Countries (OPEC).
As a political move aimed at pleasing voters, President Richard Nixon announced in 1971 (prior to his reelection campaign of 1972), "I am today ordering a freeze on all prices and wages throughout the United States.” The wage and price controls the Nixon administration sought to put in place interfered with natural market forces and oil supplies were reduced. That problem was magnified in 1973 when oil exporting countries in the Arab world imposed an embargo on supplies to the United States due to US support of Israel in a war that Israel was fighting against a coalition of Arab states.
Both factors -- lingering efforts at price controls and continued control of the oil and gas market by OPEC nations -- played into the long lines at gas pumps seen in America in the 1970s.
Answer:
King Leopold II created a colony in the Congo River region of Central Africa during a wave of widespread European colonization in the 1880s. The desire for valuable goods like rubber and ivory combined with limited laws and regulations in the Congo Free State led to the abuse of native laborers and countless deaths.
Explanation:
The involvement of the United States in Yom Kippur War led into an oil embargo that shocked everyone. The price of oil are shockingly high from $3 to $12 in no time. The supply were not equally given to the demand of the consumers.
