Which illustrates the social cost of inflation

Reference no: EM131283426

"During periods of inflation, people use real resources to reduce their holdings of fiat money. Such activities produce a private benefit with no corresponding social gain, which illustrates the social cost of inflation". Explain this quotation and cite example.

Reference no: EM131283426

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Which illustrates the social cost of inflation : "During periods of inflation, people use real resources to reduce their holdings of fiat money. Such activities produce a private benefit with no corresponding social gain, which illustrates the social cost of inflation". Explain this quotation an..

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