wage freeze

'wage freeze' can also refer to...


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An attempt by a government to counter inflation by fixing wages at their existing level for a specified period. For various reasons, including the use of overtime and bonuses to defeat the measure, this is no longer considered an effective policy. Wage restraint is a less rigidly applied attempt to control prices by obtaining union agreement to make only modest and essential claims for wage increases.

Subjects: Economics — Business and Management.

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