Gilbert and Colleagues (1998) Asked People in a Relationship ("Luckies")

question 16

Multiple Choice

Gilbert and colleagues (1998) asked people in a relationship ("Luckies") to predict how they would feel if they broke up. They compared these estimates with the happiness levels of people who had recently ended a relationship ("Leftovers") . What did they find?

• A) Luckies estimated they would be happier compared to Leftovers.
• B) Luckies estimated they would be less happy compared to Leftovers.
• C) There was no difference between the estimated happiness of Luckies and Leftovers.
• D) The unhappier the Luckies thought they would be, the less likely they were actually to break up with their relationship partners.

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Definitions:

Unfavourable Variance

A financial term indicating that actual results are worse than expected or budgeted results, leading to a negative impact on profitability.

Sales Volume Variance

A metric used in budgeting and accounting to measure the difference between the actual quantity sold and the expected sales volume, indicating the impact on profit.

Variable Costing

An accounting method that only includes variable production costs (materials, labor, and variable overhead) in product costs and treats fixed overhead as a period expense.

Opening Stock

The value of inventory that a company has on hand at the beginning of an accounting period.