Randomized Controlled Trials

question 72

Multiple Choice

Randomized controlled trials:

• A)choose people randomly to measure the impact of a particular intervention,saving the cost of evaluating all participants.
• B)randomly assign people into control and treatment groups in order to focus on the impact of a particular intervention.
• C)control how much of a treatment is given to each participant in order to measure the ideal quantity.
• D)None of these statements is true.

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Definitions:

Subsidy

Financial assistance granted by the government to support or lower the cost of goods and services.

Market Equilibrium

The condition in a market where the quantity of a product supplied is equal to the quantity demanded, often resulting in an equilibrium price.

Output Level

The quantity of goods or services produced by a company, industry, or economy within a specified period.

Private Value

Represents the worth or value of a good or service to an individual consumer, which may differ from its market price or cost to others.