Question 12What is the difference between a debit/ATM card and a credit card?With a debit/ATM card you are spending your own money. With a credit cardOA.you are always borrowing money.OB. Debit/ATM cards can only be used to withdraw cash.OC. Credit cards can only be used for purchases.OD. They are the same thing; there is no difference.Question 13Save and QuitSciect the Tarse statement:DELL#3$3478.eyd< O Question 19If you have a credit card limit of $1,000, you should never carry a balance of morethan $800.True.False.Question 20Save and Quitme mtcrest rae a credit card company gives you when you first get your creditcard can never be changed, even if your credit gets ruined and you don't makeDELLCe23$&7eydi

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ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter14: Banking And The Money Supply

Section: Chapter Questions

Problem 1.1P

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Question 2 If you have a credit card limit of $1,000, you should never carry a balance of more than $800. True. False, Question 3 Credit cards are expensive ways to borrow money. True. False. Sign-i Your Save and Quit Your interest rate on your loan with the credit card company can go up big time if DELL & $ 4. 2# 3 y e
Question 18 The maximum amount of money that you can charge on a credit card is called: OA. Monthly statement. OB. Credit limit. Oc. Debt ratio. OD. None of the above. Question 19 Which of these choices shows the smartest thinking? e my credit card to finance purchases. Save and Quit use y credit card to build my credit and for convenience. But I try to never finance purchases with my credit card. Instead, if I really do need to DELL $ 4 5 W e
What is the difference between a debit card and a credit card? A purchase with a debit card you never have to pay for. A credit card comes directly from your checking account. O A debit card purchase comes directly from your checking account. A purchase with a credit card you never have to pay, ever. O A debit card has your purchases come directly from your checking account. A credit card collects the amount that you spend the entire month. If you do not pay the entire balance, you will have to pay interest. O A debit card collects the amount you spend over the month and sends you a bill. If you do not pay the whole bill, you have to pay interest. A credit card purchase comes directly from your checking account.
16. A debit card differs from a credit card in that Question 16 options: a) a credit card is a loan while for a debit card purchase, payment is made immediately. b) a debit card is a loan while for a credit card purchase, payment is made immediately. c) a debit card is a long-term loan while a credit card is a short-term loan. d) a credit card is a long-term loan while a debit card is a short-term loan.
Question 3 If you make a late payment on a 0% interest credit card, you're responsible for paying the entire interest from the time you opened the card. True. False. Question 4 Save and Quit credit card I can get from a company regardless of terms and conditions. DELL @ # $ & 2 3 4 5 e t y S f (0
What is the best way to avoid credit card debt? O Buy everything on credit. O Buy only the things you need on credit. O Pay in full and on time each month. None of the above
When you open a savings account, you and your joint account holder will need these fouritems. Put a checkmark next to or highlight, in the image below, the items you knowyou/your parent/guardian already have and circle any items you would need to work onobtaining
What are some ways that someone looking for a loan might reassure a bank that is faced with imperfect information about whether the borrower will repay the loan?
How much money do you have to put into a bank account that pays 10% interest compounded annually to have 10,000 in ten years?
Rio Tinto pays a tee to a bank for its assistance during an issue of securities. Rio Tinto does NOT have a deposit account at that bank. The bank deposits at the bank receiving the fee and the bank deposits in the banking system OA decrease; decrease O B. do not change: decrease do not change; do not change OD. increase; decrease OE decrease: do not change
Which among the following statements is not true about Savings bank deposits? It is meant for small income groups O Interest is allowed on the credit balance of this account. O It promotes the habit of thrift among depositors O There is no restriction on the amount that can be withdrawn at a particular time
Transactions on a debit card can't affect your credit history. O True O False

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