Debit cards allow an individual to transfer funds directly in a checkable account to a merchant without writing a check. How is this different from the way credit cards work? Are either credit cards or debit cards money? Explain.

Economics Today and Tomorrow, Student Edition
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ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter15: The Federal Reserve System And Monetary Policy
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Debit cards allow an individual to transfer funds directly in a checkable account to a merchant without writing a check. How is this different from the way credit cards work? Are either credit cards or debit cards money? Explain.

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