Property owned by groups is called:

The union wage differential

A) varies substantially across employment sectors. B) increases during expansions. C) has remained fairly constant over the past 30 years. D) is greater for private sector employees than for government sector workers.

Suppose a price ceiling is set by the government below the market equilibrium price. Which of the following will result?

a. The demand curve will shift to the left. b. The quantity demanded will exceed the quantity supplied. c. The quantity supplied will exceed the quantity demanded. d. There will be a surplus.