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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 13
If an economy always has inflation of 10 percent per year, which of the following costs of inflation will it NOT suffer?
A) shoeleather costs from reduced holdings of money
B) menu costs from more frequent price adjustment
C) distortions from the taxation of nominal capital gains
D) arbitrary redistributions between debtors and creditors
A) shoeleather costs from reduced holdings of money
B) menu costs from more frequent price adjustment
C) distortions from the taxation of nominal capital gains
D) arbitrary redistributions between debtors and creditors
Explanation
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Verified
If rate of inflation is high, then holdi...
Essentials of Economics 7th Edition by Gregory Mankiw
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