Credit Cards Are Considered to Be "Money Substitutes" Instead of Money

question 6

Multiple Choice

Credit cards are considered to be "money substitutes" instead of money because

• A)they cannot serve as a temporary medium of exchange.
• B)they are not acceptable to pay for purchases.
• C)money must eventually be used to pay for the transaction.
• D)credit card accounts are not chequable.
• E)the only function of money they can perform is to serve as a store of value.

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Definitions:

Possibility of Error

The probability that a statistical inference or decision made might be incorrect due to the limitations of sampling or experimental design.

Statistical Significance

The probability that an observed difference or relationship exists in a population, not just in the sample studied.

Hypothesized Reason

A suggested theory developed from minimal evidence intended to serve as a foundation for additional research.

Statistical Significance

A determination that a relationship between variables is not likely to be due to chance at a specified level of probability.