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The Office of Price Administration (OPA) was established within the Office for Emergency Management of the United States government by Executive Order 8875 on August 28, 1941. The functions of the OPA were originally to control money ( price controls ) and rents after the outbreak of World War II .
Menu costs are the costs incurred by the business when it changes the prices it offers customers. A typical example is a restaurant that has to reprint the new menu when it needs to change the prices of its in-store goods. So, menu costs are one factor that can contribute to nominal rigidity. Firms are faced with the decision to alter prices ...
The Act of Congress established the Office of Price Administration (OPA) as a federal independent agency being officially created by Franklin D. Roosevelt on April 11, 1941. [ 1 ] The H.R. 5990 legislation was passed by the 77th U.S. Congressional session and enacted into law by Franklin D. Roosevelt on January 30, 1942.
The Office of Price Administration (OPA) warned Americans of potential gasoline, steel, aluminum, and electricity shortages. [6] It believed that with factories converting to military production and consuming many critical supplies, rationing would become necessary if the country entered the war.
WASHINGTON (Reuters) -The U.S. Supreme Court agreed on Friday to decide the legality of a key component of the Affordable Care Act that effectively gives a task force established under the ...
The Economic Stabilization Act of 1970 (Title II of Pub. L. 91–379, 84 Stat. 799, enacted August 15, 1970, [2] formerly codified at 12 U.S.C. § 1904) was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers [3] as part of a general program of price controls within the American domestic goods and labor ...
The restaurant chain began by serving an extensive breakfast and lunch menu, and later extended hours to include dinner selections. In 2012 the chain expanded into Ontario, [3] and by 2014 there were 31 locations. In 2015, the chain had 43 franchise units. [4]
Rationing is often done to keep price below the market-clearing price determined by the process of supply and demand in an unfettered market. Thus, rationing can be complementary to price controls . An example of rationing in the face of rising prices took place in the various countries where there was rationing of gasoline during the 1973 ...