question archive Inflation can impose significant costs and adversely distort economic systems

Inflation can impose significant costs and adversely distort economic systems

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Inflation can impose significant costs and adversely distort economic systems. Identify whether the costs/distorting affects listed below are as a result of menu costs, shoe-leather-costs or unit-of-account costs :

- Can reduce the quality of economic decisions

- People spend time converting money into Something that better holds value

- Causes costs associated with changing prices in stores

-Can lead to stores listing prices in more stable currencies

-Makes money a less reliable source measurement

-Can cause distortion to the tax system

-Causes difficulty in firms and individuals Financial planning

- Discourages people from holding money

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