Which statements are true regarding credit and debit cards? L. Neither credit cards nor debit cards are money. IL Credit cards are a means of deferring payment. III. Debit cards allow the user immediate access to deposits in a bank account, which are part of the money supply. IV: Both credit cards and debit cards are fiat money. Select one: O a. II, III, and IV only. O b. OC O d. I, II, III, and IV. L, I, and ill only. II and III only.

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
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Chapter21: The Monetary System
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Which statements are true regarding credit and debit cards?
1. Neither credit cards nor debit cards are money.
II. Credit cards are a means of deferring payment.
III. Debit cards allow the user immediate access to deposits in a bank account, which are part of the money supply.
IV: Both credit cards and debit cards are fiat money.
Select one:
O a. II, III, and IV only.
O b.
OC.
O d.
I, II, III, and IV.
I, II, and Ill only.
Il and ill only.
Transcribed Image Text:son Which statements are true regarding credit and debit cards? 1. Neither credit cards nor debit cards are money. II. Credit cards are a means of deferring payment. III. Debit cards allow the user immediate access to deposits in a bank account, which are part of the money supply. IV: Both credit cards and debit cards are fiat money. Select one: O a. II, III, and IV only. O b. OC. O d. I, II, III, and IV. I, II, and Ill only. Il and ill only.
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