If credit cards were made illegal by government legislation, what would happen to velocity? Explain your answer.

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The Economics of Money Banking and Financial Markets

ISBN: 978-0321785701

5th Canadian edition

Authors: Frederic S. Mishkin, Apostolos Serletis

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Question Posted: Nov 09, 2018 12:19 PM

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If credit cards were made illegal by congressional legislation, what would happen to velocity? Explain your answer.
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If credit cards were made illegal by government legislation, what would happen to velocity? Explain your answer.

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Velocity would fall because a ...View the full answer

The Economics of Money Banking and Financial Markets

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