When the interest rate is R, the formula for finding the value of a current amount $M one year from now is

Which of the following describes an economy?

a. The social arrangement that determines what is produced, how it is produced, and for whom it is produced b. The process that describes the evolution of human society c. The arrangement that determines who governs the people and how they govern the people d. The system by which a state or community is controlled

The table below shows how the payoffs to two political candidates depend on whether the candidates run a positive or negative campaign. The payoffs are given in terms of the percentage change in the number of votes received. Suppose that the Republican candidate tells the Democratic candidate that he intends to run a positive campaign. The likely result is that:

A. both candidates will run a positive campaign. B. both candidates will run a negative campaign. C. the Republican candidate will run a positive campaign, and the Democratic candidate will run a negative campaign. D. the Republican candidate will run a negative campaign, and the Democratic candidate will run a positive campaign.