Which Is Most Likely to Be a Reason for Inaccuracies

question 20

Multiple Choice

 Which is most likely to be a reason for inaccuracies in information technology cost estimates?

• A) Estimates take a long time to be worked out.
• B) People lack estimating experience.
• C) Human beings are biased toward overestimation.
• D) Only software development provides the scope for estimates to be accurate.

---

Definitions:

Inflation Expectations

Inflation expectations are the rate at which people—consumers and investors—expect the general level of prices to change in the future.

Unemployment Rate

The portion of the labor market that consists of people who are jobless and actively on the lookout for work.

Favorable Supply Shock

An unexpected event that increases the supply of a good or service, leading to a lower equilibrium price.

Short-run Phillips Curve

A graphical representation showing an inverse relationship between the rate of unemployment and the rate of inflation in the short-term.