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Part III Reading ComprehensionThe increase in life expectancy is arguably the most remarkable by‐product of modern economic growth. In the last 30 years we have been gaining roughly 2.5 years of longevity every decade both in Europe and in the United States. This progress outpaced the most optimistic scenarios and documented that demographic projections are no more reliable than economic forecasts. The progress may also turn out to be resilient in the years to come. The sharp reduction in the number of childbirths per woman, a phenomenon somewhat parallel to the increase in longevity, implies population ageing.In the popular press, longevity and population ageing are typically perceived as a tremendous burden, and the idea of a ‘demographic time bomb on advanced economies’ is the most picturesque image of this perception. At a more scientific level, the staggering increase in the dependency ratio of the elderly population over the next 50 years is indeed a worrying summary statistics. These projections are nevertheless based on a constant set of policies in the area of labour market and social security. With a proper set of reforms, conversely, advanced economies have the option of transforming the enormous challenge posed by longevity into a long‐term opportunity to boost aggregate outcomes. The argument runs as follows. With properly designed market incentives to remain on the job, healthy elderly workers would provide an increase in average labour market participation, with potential positive effects on a country’s gross domestic product. Current policies do not provide such incentives. As a result, the basic prerequisite of a healthy ageing scenario is a substantial structural reform in social security and in labour market institutions.What can be learned about the progress of life expectancy?

A. The progress proves that demographic prediction is reliable.
B. Globally there was an average gain of 2.5 years of life.
C. Life expectancy is expected to decline during the next decade.
D. The progress is expected to keep increasing in the coming years.

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A. Two.
B. Three.
C. Four.
D. Five.

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