The idea that nominal variables are heavily influenced by the quantity of money and that money is largely irrelevant for understanding the determinants of real variables is called the

In an English open outcry auction,

a. bidding opens at a high price and then the price falls until only one buyer remains b. bids and offers may be made in any order c. sellers with market power capture most of the benefit d. sellers outnumber buyers e. bidding opens at a low price and the price then increases until only one buyer remains

Which of the following is the most likely result of an increase in the minimum wage?

a. an increase in the employment of unskilled workers b. a decrease in the number of workers seeking minimum wage jobs c. an increase in the demand for unskilled workers d. a decrease in the employment of unskilled workers