Question 18 (1 point) Shoeleather costs arise when higher inflation rates induce people to spend more time looking for bargains. spend less time looking for bargains. hold more money. hold less money
Hold less money explanation: when inflammation rate right people are discourage from holding large amount because its value of rising prices so people prefer to hold most of money in a bank account and keep only less with them which causes them to make regular trips to their bank to withdraw cash to pay goods and services this regular trip create shoe leather cost.