When Dale Buys a New Computer for $1,000 Using a Credit

question 14

Multiple Choice

When Dale buys a new computer for $1,000 using a credit card,

• A)the credit card is performing the function of a unit of account.
• B)he is taking out a loan for $1,000.
• C)his bank account decreases by $1,000.
• D)the money supply decreases by $1,000.
• E)the credit card is acting as money.

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Definitions:

Moral Development

Refers to the process by which individuals acquire and understand the values, attitudes, and behaviors considered appropriate and ethical within their society or culture.

Lawrence Kohlberg

A psychologist best known for his theory of stages of moral development, which describes how individuals evolve in their understanding of morality.

Liberty Rights

The right to be left alone to pursue our legitimate interests.

Legitimate Interests

Interests that do not violate others’ similar and equal interests.