The introduction of ATMs reduced the:
A) menu costs of inflation.
B) shoe-leather costs of inflation.
C) unit-of-account costs of inflation.
D) amount of seigniorage.

Question

Quizplus · Accepted Answer

The introduction of ATMs reduced the shoe-leather costs of inflation by making it easier and more convenient for people to access their money without having to physically visit a bank or financial institution. This reduced the need for individuals to spend time and resources "running around" to obtain cash, which is a typical behavior during inflationary periods when holding money becomes more costly.

The Introduction of ATMs Reduced The