Word: iv
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...fiscal 1973, and it proved too much of a stimulus for an economy that was already straining close to its limits. The result: a burst of demand-pull inflation and a spate of shortages that forced President Nixon to clamp on another wage-price freeze and institute Phase IV. Had the full-employment target been set higher, the overheated condition of the economy might have been discerned sooner...
...emancipation of the auto industry was the latest step in the Administration's plan to phase out Phase IV on a lingering, piecemeal basis (TIME, Dec. 3). In recent weeks, controls have been lifted from the zinc, lead, cement and fertilizer industries in an attempt to encourage companies to boost production of these scarce items. As a result, prices for these products have shot up, in some cases by 50% or more. But in freeing the carmakers, COLC Chief John Dunlop was reverting to an earlier policy goal: permitting higher prices now in exchange for a modicum of price...
...Faculty of Arts and Sciences announced the new exam schedule yesterday: Exam Groups New Date Day I, VII, IX Jan. 24 Thursday XIII Jan. 25 Friday XI Jan. 26 Saturday X, XV, XVI Jan. 28 Monday IV Jan. 29 Tuesday II Jan. 30 Wednesday XII Jan. 31 Thursday III Feb. 1 Friday VII, XIV Feb. 2 Saturday V Feb. 4 Monday VI, XVII, XVIII Feb. 5 Tuesday...
...while the varied vertical projections in between evoke the silhouetted figures of the Manhattan scape." So said brilliant, Kiev-born Louise Nevelson, 73, doyenne of American sculptors, as she supervised the assembling of her splendid gift to the city in which she has lived for 53 years: Night Presence IV, a 22½-ft.-high, 4½-ton rusty steel abstraction...
Peeling Off. The Administration has ruled out any abrupt relaxation of Phase IV's rules. Instead, COLC Director John Dunlop will preside over a lingering phaseout, during which controls will be selectively lifted on an industry-by-industry basis. More than 70 industries and companies have so far asked for exemptions, using, says Dunlop, "every conceivable argument that the mind of man can devise." At first, Dunlop and others emphasized granting exemptions when industry leaders promised reasonable price stability in exchange. Now the Administration hope is that by allowing prices to rise, the COLC will encourage companies to expand...