Wage freeze is a policy measure aimed at

Assessment: JAMB UTME - Economics - 2014 Subject: Economics

Question 1 Report

Wage freeze is a policy measure aimed at
Answer Details
Wage freeze is a policy measure aimed at curbing inflation. It involves freezing or slowing down the rate of increase in wages, which is the amount of money paid to employees for their work. This is done to control the overall rise in prices of goods and services in an economy. By keeping wages low, the cost of producing goods and services also decreases, which helps in controlling inflation and maintaining a stable economy.
Read lesson note on Money And Inflation (WAEC)
Read lesson note on Economics As A Science (JAMB)
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