Melissa has several credit cards, as well as a debit card. When making a purchase, which of the following is a reason that Melissa might use her debit card instead of one of her credit cards?

1. Her debit card allows her to use preapproved lines of credit granted by a bank or finance company, so she can purchase now and pay later.

2. Her debit card offers her a purchase "grace period."

3. Her debit card provides a hard "paper trail."

4. Her debit card allows her to pay for items directly from her checking account, so she will not receive a bill later.

5. Her debit card provides her with store-specific benefits, such as coupons and savings on certain items

Sarah is a professor at Eastern City University, and she does all her banking at her university's credit union. Which of the following is a benefit Sarah would most likely receive from belonging to this credit union?

1. The credit union will give Sarah a mortgage without any collateral.

2. The credit union will keep Sarah's money safer than other banks in the event of a financial crisis.

3. The credit union will allow Sarah to vote for directors.

4. The credit union will offer Sarah lower interest rates.

5. The credit union will partner with commercial banks to offer Sarah more comprehensive services.

In which of the following scenarios would bartering be most likely to become inefficient?

1. David and Michael often trade baseball cards of similar value with each other.

2. Mark paints Becky's house in exchange for a weekly supply of vegetables and fruits from Becky's farm for three months.

3. Debbie and Kristen trade half of their sandwiches with each other at lunch, so they each have one half tuna fish and one half chicken salad.

4. Steve has a truck and Bailey has a hybrid car; they trade cars for a week because Bailey needs to pull a trailer and Steve has a long road trip and wants better gas mileage.

5. Rachel wants Carolyn's lipstick, Carolyn wants Chloe's hair bow, and Chloe wants Rachel's eye shadow; they orchestrate a three-party trade, so each of them gets the item she wants.