Multiple Choice
Which of the following do shoeleather costs refer to?
A) the cost of more frequent price changes induced by higher inflation
B) the distortion in resource allocation created by distortions in relative prices due to inflation
C) resources used to maintain lower money holdings when inflation is high
D) the distortion in incentives created by inflation by taxes that do not adjust for inflation
Correct Answer:

Verified
Correct Answer:
Verified
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