As the rate of inflation increases, the increased cost to a consumer of more frequent trips to the bank to make cash withdrawals represents an increase in the:
A)shoe leather costs of inflation.
B)erosion of the purchasing power of cash.
C)tax distortion generated by inflation.
D)"noise" in the price system.

Question

Quizplus · Accepted Answer

Shoe leather costs are any of the inconveniences people face when they need money for a transaction.

As the Rate of Inflation Increases, the Increased Cost to a Consumer