- •Міністерство освіти і науки, молоді та спорту україни
- •Методичні рекомендації
- •Factors of production
- •2. Natural Resources
- •3. Human Resources
- •4. Capital Resources
- •Exercises
- •Unit 2 Economic systems
- •Free enterprise economiс system
- •3. Private property.
- •4. Freedom of choice and enterprise.
- •5. Self-interest
- •6. Competition.
- •7. Markets and Prices.
- •Exercises
- •Unit 3 The study of economics
- •Positive economics vs. Normative economics
- •Exercises
- •Unit 4 Economy as a system
- •Economic Business Cycles
- •Exercises
- •Unit 5 Measuring economies
- •The measurement of aggregate economic activity
- •Exercises
- •Unit 6 monetary issues
- •Inevitably
- •Inflation
- •3. Demand inflation
- •6. Cost-push Inflation
- •Exercises
- •Unit 7 Money and financial institutions
- •Keys to the exercises
- •Література
Exercises
Ex.2 Give English equivalents to the following word combinations:
сукупна економічна діяльність; дає можливість визначити; готова продукція, діяльність внутрішнього ринку, низка різних етапів; підвищення середнього рівня; відображена в різниці; вулиця з одностороннім рухом; запаси капіталу..
Ex.3. Find where in the text it is said about the points given below. Put down the number of the paragraph.
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functions of national income accounting;
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problems in calculating GNP;
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how to distinguish increases in the quantity of goods and services from increases in their prices;
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what are production possibilities;
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international trade.
Ex.4. Find the terms in the text which designate the following:
1. total collection of plants and equipment.
2. goods and services purchased from foreign countries.
3. the total market value of all final goods and services produced in a given time period.
4. goods or services purchased for use as input in the production of final goods or services.
5. goods and services sold to foreign buyers.
Ex.5. Say if the following statements are true or false:
1. National-income accounts only help us to measure the economy.
2. Gross national product is the total market value of country’s output of goods and services in a given year.
3. We encounter problems in calculating GNP even when we focus on domestic market activity.
4. Net investment is positive as long as some new plants and equipment are being produced.
5. The distinction between GNP and NNP is thus mirrored in a distinction between gross investment and net investment.
6. The flow of new capital must exceed depreciation, or our stock of capital will decline.
7. Whenever gross investment exceeds depreciation, net investment is negative.
Ex. 6. Find the answers to the questions in the text. Put down the number of the paragraph:
1. What are the two basic functions of national – income accounting?
2. What is GNP per capita used for?
3. What is called nominal GNP?
4. What is inflation?
5. What do our production possibilities depend on?
6. Where is the distinction between GNP and NNP mirrored?
7. What represents net exports?
Ex. 7. Answer the questions of the Ex. 6 orally
Ex.8. Describe international trade.
Ex.9. Explain the difference between nominal GNP and real GNP.
Ex.10. Prove that the production of output typically involves a series of distinct stages. Give the examples.
Ex.11. Make up a plan covering the main ideas. Discuss the text according to the plan.
Ex.11. Discussion points.
1. Can we increase consumption in a given year without cutting back on either investment or government services? Under what conditions?
2. If gross investment it not large enough to replace the capital that depreciates in a particular year, is investment greater or less than zero? What happens to our production possibilities?