One of the fed's policy tools is a. the required reserve ratio, which equals 3 percent on checkable deposits and 10 percent on savings deposits b. the discount rate, which is the interest rate at which the fed stands ready to lend reserves to commercial banks c. the open market operations, which are purchase of government securities from the government d. the monetary base, which is the sum of coins and federal reserve notes

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.