If people can use their smartphone to make payments, will currency disappear? How will the components of M1 change? As people use their smartphones to make payments, currency most likely disappear. Most of M1 will be

If people can use their smartphone to make payments, will currency disappear? How will the components of M1 change? As people use their smartphones to make payments, currency most likely disappear. Most of M1 will be

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

How to Pay for Everything With Your Smartphone
Many people stopped using cash in the early 2000s because they found debit cards were more convenient. Smartphones are now doing to plastic what cards did
to cash.
Source: USA Today, July 24, 2016
If people can use their smartphone to make payments, will currency disappear? How will the components of M1 change?
As people use their smartphones to make payments, currency
most likely disappear. Most of M1 will be
O A. will not; chequable deposits
B. will not; non-chequable deposits
OC. will; non-chequable deposits
O D. will; checkable deposits

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