The Starting Point for Program Budgeting Is Last Year's Expenditure

question 19

True/False

The starting point for program budgeting is last year's expenditure.

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Definitions:

Simulation Heuristic

The tendency to judge the frequency or likelihood of an event by the ease with which you can imagine (or mentally simulate) it.

Representativeness Heuristic

The tendency to judge the frequency or likelihood of an event by the extent to which it resembles the typical case.

Actor/observer Bias

The tendency to attribute one's own actions to external factors while attributing others' actions to their character or disposition.

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes but sometimes lead to biased or inaccurate judgments.