Question
This question is on a February 2020 NPR article on cashless stores, the link to which was in the PDF of the assignment. Answer all
This question is on a February 2020 NPR article on cashless stores, the link to which was in the PDF of the assignment. Answer all four parts of the question:
A) According to the article, what reasons do some stores and restaurants give for not accepting cash? Are these the same disadvantages of cash that Cecchetti and Schoenholtz discuss in the article on the reading list?
B) What laws have some local governments enacted to ensure that cash continues to be accepted at stores and restaurants? How do these laws compare to the legal tender law of the federal government? Are they the same, or are they different?
C) What reason do local politicians give for not allowing stores and restaurants to become cashless? Is this the same reason Cecchetti and Schoenholtz give for keeping cash?
D) What is the behavioral or psychological argument mentioned in the article for making sure consumers can pay by cash? Do you agree or disagree?
Make sure to explain your answers but keep them concise. The absolute maximum is 500 words.
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