Please review the following article found in Investopedia, Kramer, L. (April 29^th, 2021). How does the law of supply and demand affect prices? Investopedia.

Most goods respond to the relationship between price, supply, and demand. What happens when price controls are put in place such as for gasoline in the 1970s? Why?

When does the Fed reduce interest rates and why? When does the Fed increase interest rates and why?