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Recall Schachter and Singer's study in which participants were given an injection, then exposed to either a very happy or very angry confederate, then asked about their mood. Which of the following is an independent variable in this study?
Efficiency
The optimal use and allocation of resources to produce the maximum amount of goods and services with minimal waste.
Equity
The concept of fairness in economics, typically referring to ownership interest in a company or property, or the idea of justice in distribution of wealth or resources.
Command Economy
An economic system where the government controls the major aspects of production, distribution, and exchange of goods and services.
Central Planning
An economic system where all major production, investment, and distribution decisions are made by a central authority, typically the government.
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