Answer:
Inflation is the consistent increase in the price level of goods and services.
Shoe Leather Cost, inflation discourages people from keeping money, as the value of money is fast reducing.
Unit of Account Costs, during inflation money reduces it's value as a measurement of value, hence is not dependable store of value.
Explanation:
Inflation is the consistent increase in the price level of goods and services.
Shoe Leather Cost, inflation discourages people from keeping money, as the value of money is fast reducing.
Unit of Account Costs, during inflation money reduces it's value as a measurement of value, hence is not dependable store of value.
