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6 Oct 2023

Price controls are often touted as a policy to help reduce inflation.In 1971, the United States was facing an inflation rate of 5.8%, which led PresidentRichard Nixon to impose a price ceiling on beef, poultry, and dairy. As a result of this,American farmers drowned their chickens and massacred their cows, without butcheringthem and selling the meat. Using a diagram, clearly explain why