Text 3 Lately，presidents of some American universities have added inflation to their wor

ry list．They a]re not concemed about inflation of prices，but of academic grades．Larry Summers，president of Harvard．recently caused a storm when he told one of the university’s professors he didn’t like grade inflation． Insiders say that nearly half the grades Harvard awards have lately been A or A minus—a lot more man in the l980s．Is this trend a bad thin9，in fact2 And is this grade inflation really“inflation”？ To take the second question first，the answer is N0，not stricdy speaking．”Inflation”in grades ought to mean that work of a given standard would be awarded an ever higher grade，year by year.The highest permissible grade would therefore have to keep rising in a ceaseless processlon of non-improvement．Because in reality the top grade is fixed，the process is not so much grade inflation as grade compression．This is worse：a distortion in relative prices is more confusing than a uniform. upward drift.Grade compression squeezes information out of the system． But is grade inflation necessarily a bad thing？The answer depends on who you are．When students leave Harvard,they carry grades as a sort of currency：a pocketful of intellectual capital，to bid for jobs or places in graduate schools against graduates from other universities with other currencies．These positions go to those who can put the most academic cash on the table。Employersand graduate schools must decide on the exchange rate,as it were，between a Harvard C student and an A student from a less distinguished place． Again．overall grade inflation-the uniform. devaluation of the students’ capital-would be telatively easy to cope with，working in principle neither to the advantage or disadvantage of Harvard graduates． Recruiters．in a position to see the market for graduates as a whole，would simply adjust their exchange rate．Compression，however，has distributional consequences．The best Harvard students see their grades devalued relative to those of second．rate Harvard students．That is bad with respect to encouraging students to work harder． 回答下列各题： The text talks about the recent storm concerning grade inflation in American universities by focusing on_________．

A.its causes

B.its features

C.its impacts

D.its purposes