Question

Four things that nearly everyone carries are?

1) ID, debit card, set of keys, cell phone
2) ID, credit card, set of keys, cell phone
3) ID, debit card, set of locks, cell phone
4) ID, debit card, set of keys, smartphone

Answer 1

Credit cards, debit cards, and smart cards are different ways to move money, but they do not change the quantity of money in the economy.

Step-by-step explanation:

Credit cards, debit cards, and smart cards are different ways to move money when making a purchase. However, having more credit cards or debit cards does not change the quantity of money in the economy, just like printing more checks does not increase the amount of money in your checking account.

A debit card is directly tied to your bank account and allows you to access the money in your account for purchases. On the other hand, a credit card is like a short-term loan from the credit card company, and you have to pay a bill for what you have charged each month. Smart cards store a certain value of money on the card and can be used for specific purposes or in certain places.