Word: higher
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Dates: during 1970-1979
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...last time. Connally's biggest liability remains the fact that he was once a Democrat and was once close to Nixon. In addition, although he was found innocent in 1975 of accepting $10,000 in bribes from dairymen, there was little doubt that he had helped them get higher price supports in the hope, if not a pledge, that they would support Nixon...
Callaghan will meet this week with leaders of the Trades Union Congress in an effort to arrive at a new social contract between the Labor government and organized labor. The stakes are high. Chancellor of the Exchequer Denis Healey warned last week that if the 15%-and-higher settlements sought by the unions are enacted, inflation will soar to double-digit rates. Moreover, unless taxes were raised to cover the higher wages, 100,000 local government workers, union members all, would have to be laid off. The Prime Minister could provoke a rebellion in his own Cabinet if he tries...
...happen, the implications would be nearly disastrous. Productivity is the key both to raising living standards and to controlling inflation. If each worker produces more, then total output will grow rapidly and employers can raise wages without jacking up prices; the rise in output per employee will offset the higher costs. If productivity is flat, almost every dollar of wage gains is translated into price boosts. Over the decades, price rises have closely followed increases in employers' unit labor costs?that is, wage gains minus productivity...
...prices at MC equals MR, but at the highest prices consumers will pay without hurting the corporation's profits. Combined with OPEC's 1979 price increase of 14.5 per cent, Carter's hikes will push the price of gasoline and the size of utility bills even higher...
...PRESIDENT'S SUPPORT of higher interest rates at the Federal Reserve Bank is inflationary, as well. Since January of 1977, the Federal Reserve Bank has increased its interest rate ten times, pushing the commercial rates even higher. In January of 1977 the interest rate offered by private banks was 6.25 per cent. T. Rowe Price Associates, a large Baltimore investment firm, predicts the rate will double to 12.5 per cent...