Credit cards are frequently used to buy goods and services. (a) Should we count credit cards as

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Credit cards are frequently used to buy goods and services. (a) Should we count credit cards as a part of money? Please explain.

(b) How would the widespread use of credit cards affect money demand in the economy? Please explain. (c) How would the widespread use of credit cards affect the exchange rate in the economy? Please explain.

Posted Date: May 08, 2024 03:06 AM

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Credit cards are frequently used to buy goods and services. (a) Should we count credit cards as

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Answer a Should we count credit cards as a part of money No credit cards should not be counted as part of the money supply Money is generally defined as anything that serves as a medium of exchange a ... View the full answer

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