Suppose That David's Only Assets Are an Automobile Worth $10,000

question 91

Multiple Choice

Suppose that David's only assets are an automobile worth $10,000 and a checking account with a $5,000 balance.His only liabilities are a student loan balance of $12,000 and a balance of $9,000 on his car loan.What is his net worth?

• A)$21,000
• B)$15,000
• C)$6,000
• D)Doug is currently insolvent with $6,000 negative net worth.
• E)None of the above statements are correct.

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Definitions:

Intrinsic Motivation

The internal drive to perform an activity for its own sake and personal rewards, rather than for some external reward or pressure.

Preference for Consistency

A psychological trait that denotes a person's desire to maintain uniformity and coherence among their beliefs, values, and actions.

Self-Control

The ability to regulate one's emotions, thoughts, and behaviors in the face of temptations and impulses.

Self-Esteem

The overall sense of value or worth a person attributes to themselves.