that tend to encourage or discourage money spending. If an economist were asked which of the three groups borrow most-people with rising incomes, stable incomes, or declining incomes-he would probably answer, those with declining incomes. Actually, in the years 1947-1950, the answer was: people with rising incomes. People with stable incomes were next and people with declining incomes borrowed the least. This shows us that traditional assumptions about earning and spending are not al ways reliable. 72)Another traditional assumption is that if people who have money expect prices to go up, they hasten to buy. If they expect prices to go down. they will postpone buying. But research surveys have shown that this is not always true. The expectations of price increases may not stimulate buying. One typical attitude was expressed by the wife of a mechanic in an interview at a time of rising prices. In a few months, "she said, " We'll have to pay more for meat and milk; We'll have less to spend on other things. Her family had been planning to buy a new car but they postponed this purchase. 73)Furthermore, the rise in prices that has already taken place may be resented and buver's resistance may be evoked. This is shown by the following typical comment: "I just don' t pay these prices; they are too high Traditional assumptions should be investigated carefully, and factors of time and place should be considered. The investigations mentioned above were carried out in America. 74)Investigations conducted at the same time in great Britain. however, yielded results that were more in agreement with traditional assumptions about saving and spending patterns. The condition most conductive to spending appears to be price stability. 75) If prices have been stable and peop have been accustomed to consider them"right"and expect them to remain stable. they are likely to buy. Thus, it appears that the common business policy of maintaining stable prices with occasional sales or discounts is based on a correct understanding of consumer psychology P 6 Aging can be defined as the progressive deterioration, with the passage of time, of the structures and functions of a mature organism. This ultimately leads to the death of the organism. 71)Either the progressive loss of function makes the organism less able to withstand infectious disease or. often, the failure of some vital organ precipitates the death of all the Many fish and reptiles also seem to avoid, or at least inhibit, aging by continuing to grow throughout their lives. 72)We do not know iust what brings on death. but it may simply be the same factors that cause death in younger members of the species: disease and predation. These challenges to life, acting in a completely random way, will eventually strike down all the members of a given generation. It is probably also true that fish and reptiles become less well adapted to their environment when they exceed a certain size. 73) In any case, the ability to grow steadily, even if slowly. does seem to protect them from the harmful effects of aging. Some marine turtles are estimated to live more than 150 years Mammals, as we have seen, grow to a certain size and then stop. Some time after the cessation of growth, agi The actual time span involved varies widely from species to species. a three-year-old laboratory rat is very old. 74) In man. although the deterioration associated with aging can be detected by the age of 30 years, fatal loss of function may not occur until much later What are the symptoms of aging? 75)Decreased muscular strength. decreased lung capacity. decreased pumping of blood from the heart, decreased urine formation in the kidney and decreased metabolic rate are just a few of the many body changes which occur with aging Passage 7 Scientists must accept facts even when they would like them to be different. 71)They must strive to distinguish between what they see and what they wish too see for humanity's capacity for self-deception is vast. People have 1010 that tend to encourage or discourage money spending. If an economist were asked which of the three groups borrow most — people with rising incomes, stable incomes, or declining incomes — he would probably answer, those with declining incomes. Actually, in the years 1947-1950, the answer was: people with rising incomes. People with stable incomes were next and people with declining incomes borrowed the least. This shows us that traditional assumptions about earning and spending are not always reliable. 72) Another traditional assumption is that if people who have money expect prices to go up, they hasten to buy. If they expect prices to go down, they will postpone buying. But research surveys have shown that this is not always true. The expectations of price increases may not stimulate buying. One typical attitude was expressed by the wife of a mechanic in an interview at a time of rising prices. "In a few months," she said, "We'll have to pay more for meat and milk; We'll have less to spend on other things." Her family had been planning to buy a new car but they postponed this purchase. 73) Furthermore, the rise in prices that has already taken place may be resented and buyer's resistance may be evoked. This is shown by the following typical comment: "I just don' t pay these prices; they are too high. Traditional assumptions should be investigated carefully, and factors of time and place should be considered. The investigations mentioned above were carried out in America. 74) Investigations conducted at the same time in Great Britain, however, yielded results that were more in agreement with traditional assumptions about saving and spending patterns. The condition most conductive to spending appears to be price stability. 75) If prices have been stable and people have been accustomed to consider them "right" and expect them to remain stable, they are likely to buy. Thus, it appears that the common business policy of maintaining stable prices with occasional sales or discounts is based on a correct understanding of consumer psychology. Passage 6 Aging can be defined as the progressive deterioration, with the passage of time, of the structures and functions of a mature organism. This ultimately leads to the death of the organism. 71) Either the progressive loss of function makes the organism less able to withstand infectious disease or, often, the failure of some vital organ precipitates the death of all the rest. Many fish and reptiles also seem to avoid, or at least inhibit, aging by continuing to grow throughout their lives. 72) We do not know just what brings on death, but it may simply be the same factors that cause death in younger members of the species: disease and predation. These challenges to life, acting in a completely random way, will eventually strike down all the members of a given generation. It is probably also true that fish and reptiles become less well adapted to their environment when they exceed a certain size. 73) In any case, the ability to grow steadily, even if slowly, does seem to protect them from the harmful effects of aging. Some marine turtles are estimated to live more than 150 years. Mammals, as we have seen, grow to a certain size and then stop. Some time after the cessation of growth, aging begins. The actual time span involved varies widely from species to species. A three-year-old laboratory rat is very old. 74) In man, although the deterioration associated with aging can be detected by the age of 30 years, fatal loss of function may not occur until much later. What are the symptoms of aging? 75) Decreased muscular strength, decreased lung capacity, decreased pumping of blood from the heart, decreased urine formation in the kidney, and decreased metabolic rate are just a few of the many body changes which occur with aging. Passage 7 Scientists must accept facts even when they would like them to be different. 71) They must strive to distinguish between what they see and what they wish too see for humanity's capacity for self-deception is vast. People have