Which of the Following Is Probably an Example of the Irrational

question 60

Multiple Choice

Which of the following is probably an example of the irrational treatment of sunk costs?

• A)Jim studied the computer output for two hours before the big meeting, but he couldn't use the information.Before the next meeting he studied the output for four hours.
• B)Mary obtained much more information than she needed in order to make a decision on the leasing arrangement.
• C)Janine had her travel agent book two flights for her to New York so that she was certain not to miss the big meeting.
• D)The pilot feared landing on the remote airstrip because there had been an accident there the day before.
• E)The company president decided to cancel the expansion project even though construction work had already begun.

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Definitions:

Locus of Control

An individual’s belief about the extent to which their actions influence the outcomes or events in their lives.

Learned Helplessness

A condition in which a person suffers from a sense of powerlessness, arising from traumatic events or persistent failure to succeed.

External Locus of Control

The belief that one's life events are largely influenced by external forces or other people, rather than one's own efforts.

Achievement Tests

Standardized tests designed to evaluate a person's knowledge or proficiency in a specific area or subject.