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Blocking is a procedure that lets extraneous factors operate during an experiment but assures - by virtue of the random selection of experimental units and their subsequent random assignment to experimental and control groups - that each treatment has an equal chance to be enhanced or handicapped by these factors.
U.S. Economic Data
Statistical information about the United States economy covering various aspects such as employment, GDP, inflation, and more, used for analysis and policy-making.
Passive Macroeconomic Policy
A strategy where the government does not intervene or adjusts its policy measures in response to economic fluctuations.
Expansionary Gap
The situation that occurs when an economy's output exceeds its potential output, indicating overheating.
Real GDP
Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced by an economy in a specific period, expressed in real terms.
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