Which of the Following Best Describes a Planning Fallacy

question 58

Multiple Choice

Which of the following best describes a planning fallacy?

• A)the tendency to choose information supporting our existing position and ignore conflicting evidence
• B)the tendency to underestimate the time it will take to complete a task
• C)the tendency to rely on one piece of information, however irrelevant
• D)the tendency to believe that an actual event was predictable even if it was not

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Definitions:

Economics Textbooks

Books that provide foundational knowledge and analysis of economic principles, theories, and frameworks.

Consumer Surplus

The distinction between what customers can and are ready to pay for a product or service and the amount they end up paying.

Online Classes

Courses or educational programs delivered over the internet, allowing students to learn remotely.

Consumer Surplus

The discrepancy between what consumers are prepared and capable of paying for a product or service compared to what they end up spending.