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When Studying Changes in the Economy Over Time,economists Want a Measure

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When studying changes in the economy over time,economists want a measure of the total quantity of goods and services the economy is producing that is not affected by changes in the prices of those goods and services.In other words,economists want to study


Definitions:

Factorial Design

An experimental setup that involves studying the effects of two or more factors by varying them systematically.

Independent Variables

Factors in an experimental setup that are intentionally changed by the investigator to determine their effect on the dependent variables.

Levels

Different stages or degrees within a process or structure, often used to describe intensity, concentration, or hierarchy.

Independent Variables

Variables in an experiment that are manipulated to determine their effect on the dependent variable.

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