The increased use of credit cards leads to
A)a movement upward along the demand for money curve.
B)a rightward shift in the demand for money curve.
C)a movement downward along the demand for money curve.
D)no movement along the demand curve for money nor a shift in the demand curve.
E)a leftward shift in the demand for money curve.

Question

Quizplus · Accepted Answer

The increased use of credit cards reduces the need for holding cash, leading to a decrease in the demand for money, which is represented by a leftward shift in the demand for money curve.

The Increased Use of Credit Cards Leads to