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If the marginal propensity to consume is 6/7, then the multiplier is 7.
External Validity
The extent to which the results of a study can be generalized to other situations and to other people.
Internal Validity
The extent to which a study establishes a trustworthy cause-and-effect relationship between a treatment and an outcome.
Institutional Review Board (IRB)
A committee that reviews and monitors research involving human participants to ensure ethical standards are maintained.
American Psychological Association (APA)
A leading scientific and professional organization representing psychology in the United States, dedicated to advancing the creation, communication, and application of psychological knowledge to benefit society and improve lives.
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