Are credit cards money? Explain.
What will be an ideal response?
Credit cards represent the ability to get an instant loan that can be exchanged for goods or services. At some point, however, that loan must be paid with money (checks or currency). So credit card transactions are short-term loans that must be repaid with money.
Economics
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If income increases from $110,000 to $120,000 and consumption from $108,000 to $114,000 . the marginal propensity to consume is:
a. 0.40. b. 0.60. c. 0.94. d. 1.60.
Economics
The term "balance of payments" refers to a nation's:
a. goods exports minus imports. b. record of all international transactions. c. capital inflows minus outflows. d. official reserves inflows minus outflows.
Economics