The functions of money are a. medium of exchange, the ability to buy goods and services, and checking accounts. b. medium of exchange, the ability to buy goods and services, and the ability to pay off debts. c. medium of exchange, unit of account, and store of value. d. store of value, use as a barter mechanism, and unit of account. e. credit cards, checking accounts, currency, and coins.

What is the difference between total utility and marginal utility? a. marginal utility is subject to the law of diminishing marginal utility while total utility is not. b. total utility represents the consumer optimum while marginal utility gives the total utility per dollar spent on the last unit. c. total utility is the total amount of satisfaction derived from consuming a certain amount of a good while marginal utility is the additional satisfaction gained from consuming an additional unit of the good. d. marginal utility represents the consumer optimum while total utility gives the total utility per dollar spent on the last unit.