Description

It is likely that you participate in the monetary system on a daily basis. Every time you buy or sell something using cash or credit, you are contributing to the monetary system. But how much do you really know about how this system works?

Instructions

1. In a post to the discussion, respond to the following:

• In your daily life, do you primarily use cash, checks, debit cards, or credit cards? Why do you prefer one form of money over all the others?
• If everyone in the US were prohibited from using paper money and coins, (credit cards and checks would be acceptable) what effect do you think this would have on society? Why?
• If everyone in the US stopped using credit cards, but instead used currency (paper money and coins), what effect might this have on the monetary system, if any? Explain your answer.

Answer rating: 100% (QA)

Response In my daily life I primarily use debit cards The convenience and ease of transactions coupl... View the full answer