Emily is experiencing a shoe leather cost
The time and effort a person puts forth to lessen the impact that inflation has on the overall finances is shoe-leather expense. These costs are still relevant in the tactics you use to fight inflation, while originally referring to the physical labor of visiting a bank. The consequences of having the majority of their money in investments and little on hand are a regular feature of shoe-leather cost.
There are ways to reduce the expense of shoe leather even if it is as inevitable as inflation. In the example presented, hyperinflation has made it necessary for Emily to make frequent trips to her bank in order to maintain her cash holdings to a minimum. Although she is taking the time to go to the bank in this instance, her financial impact is being minimized.
Complete question:
when hyperinflation forces emily to visit her bank very frequently to keep her cash holdings to a minimum, economists say that emily is experiencing a: menu cost
b: real interest rate loss
c: shoe leather cost
d: Unit of account cost
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