Saturday, April 2, 2016

"Credit cards are considered money because they serve to purchase goods and services." Is the previous statement true or false?



"Credit cards are considered money because they serve to purchase goods and services." Is the previous statement true or false?

#Parkin #11edition #Money #PriceLevel #Inflation #Chapter25
 
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1 comment:

  1. Rully MangunsongApril 2, 2016 at 12:58 AM

    Answer:
    The statement is false. Credit cards are an ID card that, when presented, allow the owner to get an immediate loan. A loan is not money because a loan needs to be repaid with money. Thus a credit card is not money.

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