A laissez-faire macroeconomic policy, based on a __________ in self regulating properties of the economy, implies __________ by the government

Taxes can have an important effect on

A) saving. B) economic growth. C) the labor supply. D) all of the above

Clifford lives by the motto "Eat drink and be merry today, for tomorrow doesn't matter"

If today's consumption is represented by "x" and tomorrow's consumption is represented by "y", then which of the following best represents Clifford's utility function? A) U = x - y B) U = x/y C) U = x D) U = y