Principles of Macroeconomics / Unit 11 MAC 1009 short lesson, about 20 seconds
Cards Are Not Money
Captions available
The idea
A debit card is an instruction to move a checkable deposit. The deposit is the money; the card is a message. A credit card is a short-term loan, so it is not money either.
In practice
Issuing more cards of either kind does not change the quantity of money.
Where people slip
Both fail the test, for different reasons.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
Unlocks
- Nothing yet depends on this.
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