James Howard Graduated from College and Obtained a Full-Time Job

question 96

Multiple Choice

James Howard graduated from college and obtained a full-time job in accounting.At the end of his first year of employment,his assets totaled $9,000.His liabilities totaled $3,000.His ____ was $6,000.

• A) asset total
• B) profit
• C) net worth
• D) cost of living
• E) allocated total

---

Definitions:

Efficiency

The property of a resource allocation of maximizing the total surplus received by all members of society.

Equality

The property of distributing economic prosperity uniformly among the members of society.

Decision Making

The cognitive process resulting in selecting a course of action among several alternatives.

Change Minds

The process of altering one's thoughts, opinions, or decisions based on new information or reconsideration.