Economics in the News March 23, 2017 Fist study the news and inked tiekw Markers somossing.caus 1 How many cash mes e gured to receive $10 off a purcha cash mes are routed to receive $10 off a piece OA OB 100 0 250 OD 15 2 What money Money is A. any one of ve OB any unit of account at people a gomaty wng to accept in eachange for goods and services or pay of OD any medium of exchange money became the unit of account is the 7 C 2 # 3 $ 4 % 5 14 ab Q W lock A N S E D 6 R T LL C G V 3 Are Air Mes cash mes money? Ar Mes cash me Awe money because there are more than 11 milion active collector accounts Bace not money because their unt of account is the "point" Ce money because you can see them to buy groceries and gas OD are not money because they a your crest cand money? Your credit card OA generally acceptable as a means of payment money is accepted everywhere as a moens of payment Os money When you une in a store you firing your puchen hon OC not money When you make a bacharie with a credit cant you OD miny i made out of pl and the purcane tebings to you taking a lon SAA Mes ch as hoede A Mies cash ma CA OB der becaine they a fat my der The Can emment does not requn that they be accoperto de Ocador he people agree that cash lesbe accepted t 00 oder because the Bank of Canats have you got or sin ege 7 2 # 3 $ 4 % 40 5 6 Q W E R T A N S D LL F G V C Business Air Miles alerts members someone is stealing cash miles f in voo Air Miles says it shut down in-store miles redemption option to protect members: Sopha Hams CBC News Pinted Mar 23, 2017 11:00 AMT 1 Let Updated Mech 23, 2017 MILES PAPY 2 3 4 AIR % 5 6 & Ly 7 8 W E R T Y S DE G H C L C K < X C V B N M In 2017, Air Miles beefed to security for es cash mes prigram afer ponts were stolen from members accounts (CBC) 100 comments Air Miles is warning members that thieves have managed to steal cash mes from some collectors. The theft happened in a "small number of cases when points were used to buy products in stores, says the rewards program Air Miles reports that it's now in the early stages of investigating the then "We are working diligently to resolve the situation and have already contacted our retail parmers, the police and the Canadian Anci Fraud Centre," said in a statement to members Air Miles announces improvements to rewards program Air Miles quietly drops value of some points To protect collectors, Air Mies has temporarily hated the option that allowed members to se thee canh miles to buy products at participating retailers, such as gas at Shell, groceries ar Sobeys or drug store items at Rexall. Collectors can still use their cath ibles to buy gift cards online for participating stores A Miles in also advising members to protect themselves by keeping private both their collector and PIN numbers for their account The program says members personal information remain protected and has not be compromised as part of the theft REDEEM for FREE GROCERIES* & 2 3 4 5 6 7 W E R T Y C 00 8 9 S D F G H J X C V B N M MyLab Rewards expert Patrick Sojka believes the brach was wating to happen to Ar Mies. He says shoppers are required to enter a password or PIN number when using their miles towards store purchines Instead, he says they can opt for automax check out input someone else's account number and buy products Tm surprised this hasn't come about sooner that people fave started using pesiples Air Mies numbers to redeem cash rewand says Seka, of Calgary based resource site Rewards Canads "There's no true way to kind of prove that you're actually the person who's holding that Air Mies account An Miles says it has protections in place to help customers unung Cash miles, They include putting a daily cap the amount of instant cash redemptions, alerting members by email when a transaction has been made, and requiring members to use a PIN number when setting up a cash miles account. When members collect miles, they can designate them as either dream or cash mes Dream miles can be used to get rewards like vacations and merchandise Cash miles are used solely get products from participating retailers. Typically, 95 reward miles equals $10 off a purchase Air Miles says that the rewards program has more than 11 million active collector account In February, Loblaw experienced a similar problem with points the The grocery store giant warned PC Plus rewards collectors to beef up their passwords after points were stolen from some members' accounts Loblaw said the breach stemmed from people using weak nemame and password combinations. Loblaw advises PC Plus points members to change passwords after hack %6 3 4 5 6 7 Typ 00 8 9 N E R T Y J S S DF G H J X C V B N M Economics in the News March 23, 2017 First study the news atcle seked below Micach nerden tubes 1. How many cash mas are toged to ove $10 ta puche 340 OB 100 Oc 250 800 2 What is mone Moneys OA any store OB any unto OC any that people are goy 00. any medum of exchange 3 Are A Mes cash money? A Mes cash mis, OA are money because there are more than 111 OB are not money because ther unt of account OC my because you can we then to 1 OD are not money because they are not gene ceder accounts Q ock A N and services or for payment of dot % 2 3 4 5 W E R T S 6 D LL F G XCV 4. Is your credit card money? Your credit card OA is money. It is accepted everywhere as a means of payment i OB. is money When you use it in a store, you bring your purchase home and the purchase belongs to you OC is not money When you make a purchase with a credit card, you are taking a loan OD. is not money. It is made out of plastic 5 Are Air Miles cash miles legal tender? Air Miles cash miles OA. are legal tender because they are fiat money B. are not legal tender The Canadian govemment does not require that they be accepted in payment of debts C. are legal tender if two people agree that cash miles will be accepted for a purchase OD. are not legal tender because the Bank of Canada will not give you gold or silver in exchange lyp MyLab BE 100 comments Air Miles is warning members that thieves have managed to steal cash mes from some collectors. The theft happened in a small number of cases when points were used by products in stores, says the rewards program Air Miles reports that it's now in the early stages of investigating the the "We are working deigently to resolve the situation and have already contacted our retail partners, the police and the Canadian Anti-Fraud Centre," it said in a stement to members Air Miles announces improvements to rewards program Air Miles quietly drops value of some points To protect collectors, Air Miles tus temporarily tuted the option that allowed members to use their cash miles to buy products at participating retailers, such as gan at Shell, groceries Sobeys or drug store items at Rexalt Collectors can still use their cash miles to buy gift cards mine for participating so Ar Mies is abo atvesing members to protect themselves by keeping private both their collector and PN numbers for the account The program says members' personal information remains protected and has not been compromined as part of the the REDEEM for FREE GROCERIES+ # 2 3 4 5 W E R T S D LL F G 6 Y & ly 7 8 00 T D 16 9 J K X C V B N M 2 MyLab BB Rewards expert Patrick Soka believes the breach was waiting to happen to Air Miles. He say shoppers aren't required to enter password or PN number when using their miles toward store purchases, Instead, he says they can opt for automatic check-out, input someone ebe's account number and buy products "Im surprised this hasn't come about sooner that people have started using peoples Air Miles numbers to redeem cash rewards" says Sopka, of Calgary based resource site Rewards Canada "There's no true way to kind of prove that youre actually the person who's holding that Air Miles account. Ae Miles says it has protections in place to help customers using cash miles. They include putting a daily cap the amount of instant cash redemptions, alerting members by email when a transaction has been made, and requiring members to use a PN number when setting up a cash mules account. When members collect miles, they can designate them as either dream or cash miles. Dream miles can be used to get rewards like vacations and merchandise. Cash miles are used solely to get products from participating retailers. Typically, 95 reward miles equals $10 off a purchase Air Miles says that the rewards program fus more than 11 million active collector accounts in February, Loblaw experienced a similar problem with points the The grocery store giant warned PC Plus rewards collectors to beef up their passwords ater points were stolen from some members accounts Loblaw sad the beach stemmed from people using weak unemame and password combinations Loblaw advises PC Plus points members to change passwords after hack # 3 $ CO 4 5 6 N 7 8 00 W E R T Y D S D F G H J X C V B N M