Shoe-leather costs may be especially important in the tax system when inflation distorts the measures of income on which taxes are collected.

Name: Shoe-leather costs may be especially important in the tax system when inflation distorts the measures of income on which taxes are collected.
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Question

Quizplus · Accepted Answer

Shoe-leather costs refer to the costs associated with reducing money holdings in times of high inflation, not to the distortions in income measures for tax purposes.

Shoe-Leather Costs May Be Especially Important in the Tax System