Look at the ten statements for this part. You will hear a passage about "Inflation ". You will listen to it twice. Decid

Look at the ten statements for this part.
    You will hear a passage about "Inflation ". You will listen to it twice.
    Decide whether you think each statement is right(R), wrong(W)or not mentioned(NM).
    Mark your answers on the Answer Sheet.
                           Inflation
    It is a matter of common observation that although incomes keep going up over the years, we never seem to become much better off! Prices are rising continuously. This condition is termed one of inflation, the money supply is becoming inflated so that each unit of it becomes less valuable. We have grown accustomed in recent years to higher and higher and higher rates of inflation. What could be bought ten years ago for one dollar now costs well over two dollars? Present indications are that this rate of inflation is tending to rise rather than to fall. If in the real world our money incomes go up at the same rate as prices one might think that inflation does not matter. But it does. When money is losing value it lacks one of the qualities of a good money-stability of value. It is no longer acceptable as a store of value; and it becomes an unsuitable standard of deferred payments. Nobody wants to hold a wasting asset, so people try to get rid of money as quickly as possible. Inflation therefore stimulates consumer spending, and deters saving.
That is the end of Part 3. You now have 20 seconds to copy your answers on the Answer Sheet.