Review problem of Nobel laureate Milton Friedman

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Question: Nobel laureate Milton Friedman often said that "inflation is the cruelest tax." Who is it a tax on? More than one answer may be correct:

a. People who hold currency and coins in their wallet, purse, or at home

b. Businesses that hold currency and coins in their cash registers

c. People or businesses who keep deposits in a checking account that pays zero interest

d. People or businesses who keep deposits in a savings account that pays an interest rate higher than the rate of inflation

e. People or businesses who invest in gold, silver, platinum, or other metals.

Reference no: EM131832857

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