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

A) price floors
B) supply and demand
C) price ceilings
D) None of these choices are correct

Government Involvement

Refers to the activities and interventions by the government in the market to regulate or support economic operations and social policies.

Wages

Wages refer to the fixed regular payment, typically calculated on a hourly, daily, or piecework basis, made by an employer to an employee.

Interest Rates

The percentage charged on borrowed money, influencing economic growth by affecting consumer spending and investment.