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Dr. Ikeda conducts an experiment on the effect of physical beauty on being hired for a job, and has both attractive and unattractive individuals apply for the same job. However, he fails to control for the possibility that the attractive applicants have better resumes. In this case, the quality of the resumes is considered a(n) ____.
Government Failure
The occurrence when government actions lead to outcomes that are inefficient or not beneficial to society, contrary to its intended outcomes.
Market Failure
A situation in which the allocation of goods and services by a free market is not efficient, often leading to a welfare loss.
Government Failure
A situation where government intervention in the economy creates inefficiency and leads to a misallocation of resources.
Federal Money
Funds provided by the federal government, often to support state or local projects, policies, or to provide social services.
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