Without government involvement,wages and interest rates are set by _______________.

Question

Quizplus · Accepted Answer

In a free market economy, wages and interest rates are generally set by the forces of supply and demand. Without government intervention in the form of minimum wage laws or regulations on interest rates, market participants (consumers, workers, investors) determine the appropriate prices for various goods and services based on their own preferences and economic rationality. Although price floors and ceilings can also impact wages and interest rates, they are typically the result of government intervention rather than being determined solely by the free market.

Without Government Involvement,wages and Interest Rates Are Set by _______________