Word: price
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Dates: during 1970-1979
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...price is $40, but new parents may feel it is well worth it. For Rock-A-Bye-Bear is a Teddy bear that makes cranky infants drop right off to sleep. How? It is implanted with a device that plays the soothing sounds babies hear while still in the womb: the pulsing thump and whoosh made by blood coursing through their mothers' pelvic arteries...
Though advocates of continued price controls often dispute the point, evidence proves that rising gasoline prices reduce consumption. Studies by Economist Alan Greenspan and others show that when prices go up 10%, gas sales from 1.5% to 2% per licensed driver. Argues Greenspan, "It is clear that a very large part of the driving public consciously or unconsciously is quite sensitive to price...
...event that gasoline prices were to increase sharply, growth in the economy as a whole would not necessarily slow, or unemployment rise, if the proceeds of the tax were recycled to consumers, as the various Administration proposals recommend. But the impact on consumer prices would be severe. A full 2.4 points of the nation's current 13.1% inflation rate is traceable directly to increases in gasoline prices this year. Tacking another 50? a gal. onto fuel costs by most estimates would add three or four points more to the consumer price index next year...
Though nobody likes rationing or higher taxes, the economy is destined to suffer even worse reverses if Congress fails to act. OPEC's prices are all but certain to keep climbing in 1980, draining wealth out of the U.S. economy and into the bank accounts of foreign oil exporters. The price rise will help slow the consumption of gasoline still further, of course, but the inflationary impact will quickly spread throughout the whole economy, since crude oil price increases affect not just automotive fuel but all petroleum products. Enacting a gasoline tax would not only slow consumption while providing...
...further big rise in price would do shocking damage. For example, a jump to $30 per bbl. would lift OPEC's total 1980 revenues to about $300 billion, constituting a huge new international tax on economies everywhere...