In Recent Years,the Use of Debit Cards Issued by Commercial

question 97

Multiple Choice

In recent years,the use of debit cards issued by commercial banks has skyrocketed.When you pay for a purchase at a store using a debit card,you are

• A)authorizing the transfer of cash from your bank account to the merchant's bank account.
• B)creating an electronic debt to the merchant.
• C)authorizing an electronic transfer of a money substitute from you to the merchant.
• D)authorizing an electronic transfer of deposit money from you to the merchant.
• E)authorizing the transfer of bank notes from you to the merchant.

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Definitions:

Spend

To use money to pay for goods or services, or more broadly, to use resources or time for a particular purpose.

Reciprocity Norm

A social norm dictating that people should repay, in kind, what another person has provided or done for them, fostering mutual cooperation and social bonds.

Free Gift

An item or service given without charge to a customer as an incentive or as part of a promotional strategy.

Christmas Ornament

Decorative items, often intricate and festive, used to adorn Christmas trees during the holiday season.