When inflation is high and people are forced to make more trips to the bank, this is often referred to as:
A) marginal social cost.
B) hyperinflation.
C) the double coincidence of wants.
D) the neutrality of money.
E) shoe-leather costs.

Question

Quizplus · Accepted Answer

Shoe-leather costs refer to the additional time and effort, such as walking or driving frequently to the bank, that people have to incur as a result of high inflation. Therefore, the best choice is E.

When Inflation Is High and People Are Forced to Make