Voluntary wage-price restraints are known as a. wage-price controls. b. price rollbacks. c. wage-price guidelines. d. anti-inflation commitments.

Voluntary wage-price restraints are measures taken by businesses and labor unions to control wage and price increases voluntarily. They are intended to combat inflation and maintain economic stability without the need for government intervention. Step 2:

We need to compare the definition of voluntary wage-price restraints with each of the given answer choices: a. Wage-price controls are government regulations that set a maximum limit on wages and prices, not voluntary measures implemented by businesses and labor unions. b. Price rollbacks are forced reductions in prices, usually by the government, that often occur when price ceilings are implemented. This term is not related to voluntarily restraining wages and prices. c. Wage-price guidelines are suggested levels of wage and price increases, usually set by the government, to encourage businesses and labor unions to keep increases within a certain range to control inflation. d. Anti-inflation commitments are general promises made by the government, businesses, or other organizations to fight inflation, either through specific measures or broad policies. Step 3:

Based on the definitions of the terms, we can determine that the correct answer is: c. wage-price guidelines These guidelines fit the definition of voluntary wage-price restraints as they are suggested levels of wage and price increases that encourage businesses and labor unions to control inflation, all without direct government intervention.