Shoe-leather costs are the:
A) effect of inflation on the prices of food, clothes, and other necessities.
B) increased cost of transactions due to inflation.
C) high price of leather goods.
D) effect of inflation on transportation costs.

Question

Quizplus · Accepted Answer

Shoe-leather costs refer to the increased cost of transactions due to inflation, especially the cost of time and effort involved in frequent trips to the bank or ATM to withdraw smaller amounts of money due to the decreased purchasing power of currency.

Shoe-Leather Costs Are The