Credit cards are
I.a generally accepted form of payment and therefore part of M1.
Ii.included in M1 because you write a check to pay your monthly bill.
Iii.a means of borrowing money.
A)i only
B)ii only
C)iii only
D)i and ii
E)i and iii

Question

Quizplus · Accepted Answer

Credit cards are a means of borrowing money, not a part of M1, which includes physical currency and demand deposits.

Credit Cards Are I.a Generally Accepted Form of Payment and Therefore Part of Therefore