1. Are credit cards money?

2. Under what
circumstance can banks not influence the supply of money?

Question

1. Are credit cards money?

2. Under what
circumstance can banks not influence the supply of money?

Robert · Accepted Answer

6. Are credit cards money? 
 No
 They are only a means to transfer money. This is because they do not satisfy the criteria of serving as a means of exchange. Money is anything that is acceptable as a means of exchange; also it must be easy to store, act as a standard of deferred payment and store of account.

1. Are credit cards money? 2. Under what circumstance can banks not influence the supply of money?

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