Payroll Debit Cards

question 242

Multiple Choice

Payroll debit cards

• A) are protected if lost or stolen.
• B) have limited use because they can only act as a credit card, and the recipient does not have access to cash.
• C) must go through the Federal Reserve's Automated Clearing House system.
• D) can be issued to persons without bank accounts who can use them to pay bills online, or access cash from an ATM.

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Definitions:

Deadweight Loss

An inefficiency in the market where the total surplus of producer and consumer is not maximized due to factors like taxes or subsidies.

Elastic Demand

A situation where the quantity demanded of a good or service significantly changes in response to a change in price.

Equilibrium Price

The price at which the quantity of a product offered is equal to the quantity of the product in demand.

Tax Placed

The imposition of a financial charge or levy on an individual or a corporation by a government.