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inflation, standard and cost of living - its relativity.
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[QUOTE="Holicent, post: 269786, member: 76163"] Inflation can affect the cost and standard of living in the following ways: 1. People will have money to spend. 2. The prices of goods and services will be more stable, which means you can plan much better for the future and make better informed decisions about what to buy and sell. 3. The cost of borrowing money will drop because interest rates will be lower, which makes it easier for people to take on loans or borrow from friends or family members. 4. With less inflation, the value of your money goes up faster than the cost of living does even though the currency doesn't go through any changes like a change in its amount or makeup (like with a barter system). This means that even if prices go up overall, your purchasing power will remain the same or increase at least a little bit every year. 6. The higher level of investment means that there is more production capacity available to satisfy demand, which means that there will be more jobs created. This increases aggregate demand and boosts economic growth. 7. This could lead to an increase in exports, which in turn would increase foreign exchange reserves and help countries attract more foreign investment. [/QUOTE]
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inflation, standard and cost of living - its relativity.
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