Are credit cards and debit cards money? What's the difference between credit and debit cards?
Neither credit cards nor debit cards are money, but credit cards are very different from debit cards. Credit cards are not a medium of exchange, but are a means of deferring payment. Debit cards allow the user immediate access to deposits in a bank account. These deposits are part of the money supply.
You might also like to view...
The United States did not join the ICC because the U.S. government
a. disagreed with the enforcement mechanisms it put in place. b. feared the ICC would be used as a political tool against it. c. believed the ICC to be an extremely ineffective organization. d. had never been formally asked to join.
In the above figure, at a wage rate of $20 per hour
A) there is a shortage of labor. B) there is a surplus of labor. C) the labor supply curve will shift rightward. D) the labor demand curve will shift rightward.
Variables that change before real GDP changes are measured by the:
a. personal income index. b. real GDP index. c. forecasting gauge. d. index of leading indicators.
Compared to the distribution of money income, the distribution of wealth is
A. a little more equal. B. much more equal. C. much less equal. D. about the same.