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Simple English definitions for legal terms

wage-and-price freeze

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A quick definition of wage-and-price freeze:

A wage-and-price freeze is when the government says that companies can't raise the prices of things they sell or the wages they pay their workers. It's like pressing pause on how much things cost and how much people get paid. This is done to try to control inflation, which is when prices go up too fast and things become too expensive for people to buy.

A more thorough explanation:

A wage-and-price freeze is a period when the government forbids the increase of wages and prices. This means that companies cannot raise the prices of their products or services, and employees cannot receive a raise in their wages. The government imposes this freeze to control inflation, which is the increase in the prices of goods and services over time.

  • During the 1970s, the United States government implemented a wage-and-price freeze to combat inflation caused by the Vietnam War.
  • In 2020, the Venezuelan government imposed a wage-and-price freeze to control hyperinflation in the country.

These examples illustrate how a wage-and-price freeze is used by governments to control inflation. By preventing companies from raising prices and employees from receiving raises, the government hopes to stabilize the economy and prevent prices from spiraling out of control.

wage and price controls | wage assignment

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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