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Dr. Parmentier wants to know if exercise improves memory. He recruits 30 undergraduates from his university and puts the name of each student in a hat. The first student he selects is assigned to an exercise condition. The next student he selects is assigned to the inactive control condition. He repeats this process until all students are assigned to one of the two conditions. Participants in the exercise condition are taken to the university's gym and told to exercise for 30 minutes. The gym has a variety of exercise equipment, including treadmills, elliptical trainers, stationary bikes, and strength training machines for them to use.
What type of sampling method did Dr. Parmentier use? How did Dr. Parmentier assign participants to treatment conditions? What is the problem with how the researcher defines exercise? How would you fix it?
Market
Any structure that allows buyers and sellers to exchange any type of goods, services, and information.
Producer Surplus
The difference between the amount producers are willing to accept for a good or service and the actual amount they receive in the market.
Equilibrium
The state in which market supply and demand balance each other, and as a result, prices become stable.
Market
A place or system where parties engage in exchange, buying and selling goods and services.
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