Examlex
If a new luxury automobile is used 100% for business and placed in service in 2014,the maximum MACRS depreciation on the vehicle for 2014 is $3,160.
Opportunity Cost
The price paid for not selecting the next most favorable opportunity when deciding.
Production Possibilities Frontier
A curve that depicts all maximum output possibilities for two or more goods given a set of inputs (resources, labor, etc.), assuming all are used efficiently.
Labor Force
The total number of people employed and unemployed, actively seeking employment in an economy.
Production Possibilities Frontier
A curve depicting the maximum output of two goods that can be produced with given resources and technology, assuming all resources are fully utilized.
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