Final answer:
Emperor Diocletian attempted to stabilize the Roman Empire's economy by issuing the Edict on Maximum Prices and reforming the tax system; he also divided the empire into a tetrarchy to manage the empire more effectively.
Step-by-step explanation:
Emperor Diocletian took several measures to address the economic and administrative problems of the Roman Empire during his reign from 285-305 AD/CE. To alleviate the financial crisis, he reformed the tax system and initiated an official census for accurate taxation. One of his most notable acts was the issuance of the Edict on Maximum Prices in 301, which attempted to freeze wages and prices to combat inflation, although it inadvertently led to the rise of black markets. Moreover, Diocletian transformed the societal structure by turning independent farmers into serfs, partly to ease tax collection. His administrative reforms included dividing the empire among four rulers, known as the tetrarchy, to prevent civil unrest and ensure a smoother transition of power.