A Real Estate Developer in the New Jersey Area Purchases

question 57

Multiple Choice

A real estate developer in the New Jersey area purchases a large tract of land and plans to build an apartment complex equipped with a golf course and other amenities. The developer is targeting the affluent software engineers from Manhattan who are looking for second homes. Halfway through the process of construction, recession hits the nation and many people lose their jobs. There are no takers for the apartments the developer is building, as homebuyers look for less expensive options. The developer, dismayed at the huge investment he has already made in the project, decides that it would be unwise to stop the project and plans to go ahead with it. The developer's reasoning is consistent with the idea of ________.

• A)progress trap
• B)post-purchase rationalization
• C)buyer's remorse
• D)escalation of commitment

---

Definitions:

Abortion

A medical procedure resulting in the termination of a pregnancy, often invoking diverse ethical, moral, and legal considerations and debates.

Technological Change

The innovation and development of new products, processes, and methods in the use of technology, often leading to significant societal and economic shifts.

Sexual Revolution

The widespread changes in men’s and women’s roles and a greater public acceptance of sexuality as a normal part of social development.

Sexual Freedom

is the capacity of individuals to express their sexual orientation, choose their sexual partners, and engage in consensual sexual activities without fear of discrimination or reprisal.