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You are a research assistant helping a psychologist to examine the effects of vitamin E on memory. Discuss each of the following as it relates to this experiment:
a. the independent, dependent, and possible extraneous variables
b. how the extraneous variables will be controlled
c. how the experimental and control groups will be set up
d. whether a single-blind or double-blind experiment will be utilized
e. how the results will be measured
GDP Deflator
A measure of the level of prices of all new, domestically produced, final goods and services in an economy, used to adjust nominal GDP to real GDP.
Inflation Rate
The frequency at which the overall price of goods and services inflates, reducing the effectiveness of the purchasing capacity.
Nominal GDP
The gross domestic product measured in current prices, without adjustment for inflation, representing the value of all finished goods and services produced within a country's borders in a specific time period.
Real GDP
An inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, expressed in base-year prices, to provide a truer reflection of economic growth.
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