Difference between debit and credit card.

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Answer 1

Question

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

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Suppose there are two firms 1 and 2, whose abatement costs are given by c₁ (e₁) and C2 (е2), where e denotes emissions and subscripts denote the firm. We assume that c{(e) 0 for i = 1,2 and for any level of emission e we have c₁'(e) # c₂' (e). Furthermore, assume the two firms make different contributions towards pollution concentration in a nearby river captured by the transfer coefficients ε₁ and 2 such that for any level of emission e we have C₂'(e) # The regulator does not know the resulting C₁'(e) Τι environmental damages. Using an analytical approach explain carefully how the regulator may limit the concentration of pollution using (i) a Pigouvian tax scheme and (ii) uniform emissions standards. Discuss the cost-effectiveness of both approaches to control pollution.

Answer 2

Question

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

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Answer 3

Question

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Answer 6

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Answer 7

Chapter 14, Problem 1.1P

To determine

Difference between debit and credit card.

Answer 8

Expert Solution & Answer

Explanation of Solution

Using a debit card is just like using cash because, in order to use debit card, one must have balance in the account so that he/she can clear the transaction made with the debit card. Without having balance in the bank account, one cannot use the debit card. On the other hand, credit card is just like loan that does not require minimum balance in the account in order to use the card. But the holder of the credit card has to pay back the money borrowed with the credit card.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Economics Concept Introduction

Introduction:

Debit card is a card that allow card holder to transfer money to other’s account or to pay for the purchase of goods and services. It also allows holder to transfer money available in the bank account.

Credit card is a card that allow card holder to transfer money or to pay for the purchase of goods and services. It also allows holder to transfer money above available balance in the account but only up to a certain limit.

Answer 12

Ch. 14 - Prob. 1.1P Ch. 14 - Prob. 1.2P Ch. 14 - Prob. 2.2P Ch. 14 - Prob. 2.3P Ch. 14 - Prob. 3.4P Ch. 14 - Prob. 3.5P Ch. 14 - Prob. 3.6P Ch. 14 - Prob. 3.7P Ch. 14 - Prob. 4.8P Ch. 14 - Prob. 4.9P

Difference between debit and credit card.

Concept explainers

Difference between debit and credit card.

Explanation of Solution

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Chapter 14 Solutions