With regard to the aggregate price level, economists generally believe:

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Economists generally believe that price stability is desirable because it helps businesses and consumers plan for the future with more certainty, lowers transaction costs, and encourages investment. Inflation generally leads to higher prices and can therefore reduce the purchasing power of individuals, while deflation can lead to lower prices but may also discourage spending and investment. Inflation does not necessarily benefit retired people, as it can reduce the real value of their savings and fixed incomes.

With Regard to the Aggregate Price Level, Economists Generally Believe