Credit cards are
I. a generally accepted form of payment and therefore part of M1.
Ii. are included in M1 because you write a check to pay your monthly bill.
iii. a means of borrowing money.
A)ii only
B)i and ii
C)i only
D)iii only
E)i and iii

Question

Credit cards are
I. a generally accepted form of payment and therefore part of M1.
Ii. are included in M1 because you write a check to pay your monthly bill.
 iii. a means of borrowing money.
A)ii only
B)i and ii
C)i only
D)iii only
E)i and iii

Quizplus · Accepted Answer

Credit cards are a means of borrowing money, not a form of money themselves, so they are not included in M1.

Credit Cards Are I. a Generally Accepted Form of Payment and Therefore Part