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Figure 2-12
-Refer to Figure 2-12.Which of the following would most likely have caused the production possibilities frontier to shift outward from A to B?
Net Income
The amount of earnings left after all expenses, taxes, and costs have been subtracted from total revenue.
FMV
Fair Market Value, an estimate of the market value of a property or asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the market.
Tax Depreciation
The deduction of a portion of the cost of a business asset from taxable income over the asset's useful life, as allowed by tax laws.
Taxable Income
The amount of income used to calculate how much tax an individual or a company owes to the government, after all deductions and exemptions.
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