1.The rate of inflation fell from 14 percent in the United States in 1978 to 3 percent in 1985. A pundit tells you that the inflation rate fell because crude oil and food prices fell and labor was not...

1.The rate of inflation fell from 14 percent in the United States in 1978 to 3 percent in 1985. A pundit tells you that the inflation rate fell because crude oil and food prices fell and labor was not asking for wage increases. Do you agree? If you want to control inflation, which policy do you recommend?