____ are defined as costs which are incurred regardless of the alternative action chosen in a decision-making problem

Which of the following might cause the real value of money to rise in an economy?

a) The government prints $1 million in new bills to finance its spending. b) The average price of food items rise by 20%. c) The price of houses and apartment rentals falls by 30%. d) Other countries in the world demand less of this money.

If income doubles and the prices of all goods remain the same, the budget line will shift outward by 50 percent along each axis

a. True b. False