The So-Called "Planning Fallacy" Is Probably a Result of the Fact

question 193

Multiple Choice

The so-called "planning fallacy" is probably a result of the fact that people adopt a(n) ____.

• A) optimistic mindset when setting goals, but a realistic mindset when striving toward goals
• B) pessimistic mindset when setting goals
• C) optimistic mindset when setting goals
• D) optimistic mindset when striving toward goals

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Definitions:

Full Employment

An economic situation in which all available labor resources are being used in the most economically efficient way.

Production Possibilities Curve

The potential total output combinations of any two goods for an economy.

Production Possibility Curve

A graphical representation showing the maximum combination of goods or services that can be produced with available resources and technology.

Economic Resource

Assets or inputs used in the production of goods and services, including land, labor, capital, and entrepreneurship.