People Go to the Bank More Frequently to Reduce Currency

question 91

Multiple Choice

People go to the bank more frequently to reduce currency holdings when inflation is high.The sacrifice of time and convenience that is involved in doing that is referred to as

• A)inflation-induced tax distortion.
• B)relative-price-variability cost.
• C)shoeleather cost.
• D)menu cost.

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Definitions:

Long-Term Relationship

An ongoing connection or engagement between parties, often characterized by trust, loyalty, and mutual benefits.

Achieving An End

The process or actions taken to reach a desired goal or outcome.

Customer Preferences

Individual tastes or choices of consumers that influence their purchasing behavior.

Strategic Customer Relationships

Building and maintaining long-term interactions with customers to understand their needs better and create mutual value over time.