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A researcher is interested in conducting a survey in the United States and in Brazil, but she wants each survey to be in each country's native language. So she hires a graduate student from Brazil to translate the survey into Portuguese and hires another one to translate it back into English to ensure that the two surveys share the same meaning. Using this technique, called back translation, helps researchers ensure _____.
Cartels
Groups of independent market participants who collude to control prices and production in an industry, often illegally.
Price Leadership
A market strategy where one leading company sets the price of goods or services, and other companies in the sector follow suit.
Covert Collusion
An implicit, non-public agreement between firms to fix prices, limit production, or divide markets, without explicit communication.
Allocative Efficiency
A state of the economy where resources are allocated in a way that maximizes the overall benefit to society.
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