With the introduction of new technology, it becomes easy to purchase items without the use of direct...

Question

With the introduction of new technology, it becomes easy to purchase items without the use of direct money. How do you think the introduction of this new technology affects the amount of currency in the economy? How about the about of checking account deposits?

David · Accepted Answer

Introduction of new technologies have made the payment systems easier. For example: setting up a 
PayPal account and a person can use this account for all the online purchases. Digital cash is the 
need of the hour for these new technologies. With the advent of these new technologies, the 
currency that people wish to hold has reduced drastically.

With the introduction of new technology, it becomes easy to purchase items without the use of direct money. How do you think the introduction of this new technology affects the amount of currency in...

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