I. Use of English (Cloze)

    Business and government leaders also consider the inflation rate to be an important general indicator. Inflation is a period of increased___1___that causes rapid rises in prices. When your money buys___2___goods so that you get less for the same amount of money___3___before, inflation is the problem.  There is a general rise___4___the price of goods and services. Your money buys less. Sometimes people___5___inflation as a time when “a dollar is not worth a dollar any more.”

    Inflation is a problem for all consumers. People who live on a fixed income are___6___the most. Retired people, for instance, cannot___7___on an increase in income as prices rise. Elderly people who don’t work face serious problems in stretching their incomes to___8___their needs in time of inflation.___9___income or any fixed income usually does not rise as fast as prices. Many retired people must cut their spending to___10___rising prices. In many___11___they must stop buying some necessary items, such as food and clothing.

    Even for working people whose incomes are going up, inflation can be a problem___12___the cost of living rises, too. People who work must have even more money to___13___their standard of living. Just buying the things they need___14  more. When incomes do not keep pace with rising prices, the standard of living goes down. People may be earning the same  15___of money, but they are not living as well because they are not able to buy___16___many goods and services.

    Government units___17___information about prices in our economy and publish it as price indexes from which the rate of change can be determined. A price index___18___changes in prices using the price for a given year as the base. The base price is set___19___100, and the other prices are___20___as a percentage of the base price.  (321 words)

 1. A. demanding           B. spending            C. consuming              D. borrowing
 2. A. a few             B. more               C. fewer                  D. a little
 3. A. than               B. like               C. since                  D. as
 4. A. in                  B. for                C. at                     D. to
 5. A. render              B. depict            C. describe                D. assume
 6. A. hurt                B. undermined           C. damaged             D. spoiled
 7. A. depend             B. rest               C. rely                  D. count
 8. A. acquire             B. obtain               C. meet                   D. suit
 9. A. Government         B. Development        C. Retirement              D. Employment
10. A. put up with         B. keep up with          C. fall in with            D. get on with
11. A. occasions           B. cases                C. positions               D. situations
12. A. although            B. if                C. when                  D. because
13. A. keep up             B. keep to            C. reckon on              D. reckon with
14. A. spends              B. costs                C. consumes               D. wastes
15. A. number             B. portion              C. amount                D. sum
16. A. so                 B. too                 C. that                   D. as
17. A. accept             B. attain                C. utilize                 D. gather
18. A. measures       B. estimates              C. assesses                D. evaluates
19. A. against           B. at                C. by                    D. on
20. A. reported       B. designated            C. decided               D. publicized