ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A
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B
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C
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None of the above
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Detailed explanation-1: -Because the money supply in the hands of the public is made up of bank-created numbers in people’s bank accounts, repaying loans in this way actually reduces the amount of money in the economy. Money – the type of money that the public use – has been destroyed in the act of repaying the loan.
Detailed explanation-2: -Generally, a bank may take money from your deposit account to make a payment on a separate debt that you owe to the bank, such as a car loan, if you are not paying that loan on time and the terms of your contract(s) with the bank allow it. This is called the right of offset.
Detailed explanation-3: -Debit cards take money out of your checking account immediately. Debit cards let you get cash quickly. You can use your debit card at an automated teller machine, or ATM, to get money from your checking account. You also can get cash back when you use a debit card to buy something at a store.
Detailed explanation-4: -Insert your debit or credit card into the ATM. Confirm your identity by entering your personal identification number (PIN) Choose the account you want to withdraw funds from. Select how much you want to withdraw. More items •15-Jul-2021