OPEC Is A

question 151

Multiple Choice

OPEC is a:

• A) group of oligopolistic producers that try to behave like a monopoly.
• B) monopoly that tries to behave oligopolistically.
• C) group of perfectly competitive producers that try to behave in a monopolistically competitive manner.
• D) group of monopolistically competitive producers that try to behave in a perfectly competitive manner.

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Definitions:

Independent Variable

A variable in an experiment that is manipulated to observe its effects on a dependent variable.

Internal Validity

The extent to which a study provides evidence that a causal relationship exists between the variables it examines, free from confounding factors.

Random Assignment

Use of a random "chance" procedure (such as a random number generator or coin toss) to determine the condition in which an individual will participate.

Confounding Variable

A factor other than the independent variable that might produce an effect in an experiment, leading to inaccurate results if not controlled.