Market interest rates are determined solely by people's willingness to loan funds, that is, their rate of time preference.

Name: Market interest rates are determined solely by people's willingness to loan funds, that is, their rate of time preference.
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Market interest rates are influenced by a variety of factors including people's willingness to loan funds (time preference), but also by central bank policies, inflation expectations, and the supply and demand for loans in the economy.

Market Interest Rates Are Determined Solely by People's Willingness to Loan