DrDow Jones Wants to Know Whether a Problem-Based Approach to Teaching

question 1

Multiple Choice

Dr.Dow Jones wants to know whether a problem-based approach to teaching economics will result in higher academic performance than his traditional method.Of the six sections of Economics 101 at his university,Dr.Jones randomly assigns three sections to the traditional method and three sections to the problem-based method.At the end of semester all students complete the same final exam.In this design,students studying under the problem-based method constitute the:

• A)placebo group.
• B)treatment group.
• C)sample.
• D)control group.

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Definitions:

Shortage/Surplus

A shortage occurs when demand exceeds supply, whereas a surplus happens when supply exceeds demand.

Quantity Demanded

The amount of a good or service that consumers are willing and able to purchase at a specific price level.

Quantity Supplied

The quantity of a product or service that sellers are prepared and capable of offering for sale at a specific price.

Equilibrium Price

The price at which the quantity of goods supplied equals the quantity of goods demanded in a market, leading to market stability.