One major consequence of the planning fallacy is that:
A. People may spend more resources to insure themselves against rare events, but leave themselves uninsured against more common events
B. Someone could persist in pursuing a failed policy despite overwhelming evidence of the failure
C. Major business projects may create bottlenecks in the organization because they are not completed as scheduled
D. Some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments
C. Major business projects may create bottlenecks in the organization because they are not completed as scheduled
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Figure 33-2
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Given the situation in graph (1) in Figure 33-2, what action could be expected from the economy’s self-correcting mechanism?
A. An increase in aggregate demand B. A decrease in aggregate demand C. An increase in aggregate supply D. A decrease in aggregate supply
Equal shares of a firm's profit are paid out to stockholders as:
A. Interest B. Dividends C. Capital gains D. Net earnings
One subject of study for macroeconomics is
A. monopoly. B. the shape of an individual's demand curve. C. unemployment. D. perfect competition.
Measured in 2014 dollars, real GDP per person in the United States in 2014 was about 10 times that in
a. China. b. India. c. Indonesia. d. Pakistan.