The production possibilities curve shifts outward when A) the ...

[Capo]

The production possibilities curve shifts outward when
 
  A) the law of increasing additional cost takes hold.
  B) the economy is producing efficiently.
  C) we produce more consumption goods over productive investment in equipment.
  D) there is an increase in resources or technology.

Question 2

A price floor represents
 
  A) a maximum price that can be legally charged for a product or service.
  B) a minimum price that can be legally charged for a good or service.
  C) a lottery imposed upon producers by the government.
  D) a first come, first served mechanism for controlling prices.

[Cnarkel]

Answer to Question 1

D

Answer to Question 2

B