Why are checking account balances, but not credit cards, regarded as money?

Question:

Why are checking account balances, but not credit cards, regarded as “money”?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

See More Books

Question Posted: May 04, 2018 01:07 AM

See More Questions

1. Money solves the problem of double coincidence of wants that would regularly occur under a system of _______. 2. Gold is a good example of fiat money. _______ (True/False) 3. Deposits in checking...
1. In an automated payroll system, all employees in the finishing department were paid at the rate of $7.45 per hour when the authorized rate was $7.15 per hour. Which of the following controls would...
Management Assertions Your first step in learning to audit is to understand and be able to identify management assertions for events and transactions. You will need to be able to relate these to...
How do the Uniform Trade Secrets Act (UTSA) and the Economic Espionage Act of 1996 differ? Why don't these acts always provide a sufficient remedy for the theft of trade secrets?
A manufacturer produces two models of bicycles. The table shows the times (in hours) required for assembling, painting, and packaging each model. The total times available for assembling, painting,...
If the General Fund of a certain city needs $6,720,000 of revenue from property taxes to finance estimated expenditures of the next fiscal year and historical experience indicates that 4 percent of...
A long solenoid with 300 windings per meter of length carries a current of $1.0 \mathrm{~A}$. Calculate the magnitude of the magnetic field inside the solenoid.
The May 2012 revenue and cost information for Houston Outfitters, Inc., follows: Requirement 1. Prepare a standard cost income statement for management through gross profit. Report all standard cost...
Elternteil Corporation owns 70 percent of Schwester Corporation's common stock and 45 percent of Bruder Corporation's common stock. In addition, Schwester owns 40 percent of Bruder's stock. In 20X6,...
Ramdeo, a workman in the Fire and Safety Department of a manufacturing unit of a factory is addicted to alcohol. He has been warned many times for coming on duty in an inebriated state. He has been...
Use the accompanying graph to illustrate changes in the structural and total deficits for fiscal years 20072013. (a) In how many years do the two deficits change in different directions? (b) In how...
In what respects are modern forms of money superior to the colonial use of wampum as money?
Tax rules, in themselves, favor corner solutions where either equity or licensing income is not used. Still, we often observe that both are used. Give some reasons why a contract may include both...
Please help me Object and Instance Before attempting this assignment, be sure you have completed all the reading assignments, non- graded exercises, discussions, and assignments to date. Overview...
I need an infographic for this reflection that is written below? Reflection: For this project, I chose to create an infographic to make the information more visually engaging and accessible. The...
Can you help me understand how to do this step by step? 2. (15 points) ChezWolfie.java: Create a function cafe_day(orders) which takes one argument, orders, which is a double dimensional array of int...
Describing a Process Given two similar triangles, what would you need to know to find an unknown length? How would you find that unknown length?
5. Read the 2018 article "Big Data Might Lead to Higher Prices" from Bloomberg. A PDF of the article is available on Blackboard....
A skier travels down a steep, friction less slope of angle 20 with the horizontal. Assuming she has reached her terminal velocity, estimate her speed.
The Smiths buy a house. They borrow 80 percent of the purchase price from the local ABC Savings and Loan. Before they make their first payment, ABC transfers the right to receive mortgage payments to...
Tim retired during the current year at age 58. He purchased an annuity from American National Life Company for $40,000. The annuity pays Tim $500 per month for life. a. Compute Tims annual exclusion....
Beth retires when she turns 65. She begins receiving a monthly pension of $300 from her employers qualified retirement plan. While employed, Beth contributed $13,000 to the plan. a. Beth uses the...
Dan and Diana file a joint return. Dan earned $31,000 during the year before losing his job. Diana received Social Security benefits of $5,000. a. Determine the taxable portion of the Social Security...
A company is looking at new equipment with an installed cost of $415,329. This cost will be depreciated straight-line to zero over the project's 5-year life, at the end of which the equipment can be...
4) Suppose that you are given the following information for BlackBerry's common stock: Year 2017 2018 2019 2020 2021 Price ($) 26.0 28.6 26.3 30.5 31.1 What is the arithmetic mean of the rate of...
1. Introduce and explain the Fashion Minimalism , how it came to be, e.g.: origins/inception. 2. Identify what the Fashion Minimalism and how it encompasses sustainability in the fashion industry. 3....

Why are checking account balances, but not credit cards, regarded as money?

Question:

Step by Step Answer:

Credit cards are a popular medium of exchange yet this use is not suf...View the full answer

The Macro Economy Today

Students also viewed these Business questions