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I. Read and memorize the following words, word- combinations and word-groups: 159

It. Give English equivalents of the following: 160

Ні. Fill in the blanks with appropriate words: 160

IV. Read and translate the text: 160

V. Answer the following questions: 163

VI. Define the terms: 163

VII. Translate into English: 163

VIII. Read and dramatize the following dialogue: 164

IX. Make up your own dialogue using the following expressions: 166

X. Replace the attributive clauses by the Infinitive: 166

XI. Make sentences with seem and appear according to the model: 166

XII. Translate into English: 166

XIII. Communicative situations: 168

Lesson 26 AGGREGATE DEMAND 168

I. Read and memorize the following words, word- combinations and word-groups: 168

II. Give English equivalents of the following: 169

III. Fill in the blanks with appropriate words: 172

IV. Read and translate the text: 172

Lesson 27 178

FURTHER CONSTRAINTS ON STABILIZATION POLICY 178

Lesson 28 186

THE NATIONAL DEBT 186

Lesson 29 190

FINANCIAL MARKETS 190

Lesson 30 INTERNATIONAL FINANCE 189

Lesson 31 iriTERHATIOriAL TRADE 202

Lesson 32 209

INTERNATIONAL DEVELOPMENT 209

A 220

в 222

D 224

E 245

F 246

G 247

и 247

I 247

N 250

о 212

Р 212

R 218

s 219

т 240

M.: The survey results illustrated the law of demand in action, didn't they?

L.: You are right. We also made the demand curve, which illustrated the demand for ice-cream cones. It also enabled us to estimate what the demand would be for those prices falling in between the prices we surveyed. Although the students were not questioned about how many cones they would buy if the selling price were $1.60, the curve lets us estimate the number would be about 55.

М.: Nice for you. Now you seem to know a lot about business. L: Not everything yet. The subject becomes quite technical. М.: I'm glad to hear it. It's time to go now. See you later. Bye!

  1. Make up your own dialogue using the following words, expressions and words-combinations:

quantity of goods and services market economy

rationing effect of price auctioneer

to offer items for sale elasticity

to attend an auction bidder

  1. Refer the following statements to the past:

Model: Economic incentives influence our decision about what and where to buy.

Economic incentives influenced our decision about what and where to buy.

1. What you see at the auction is the rationing effect of prices. 2. Prices encourage producers to increase their level of output. 3. The law of demand describes the relation­ship between prices and the quantity of goods and services.

  1. They sell these goods because they want to have a profit from such transaction. 5. Adam Smith describes the principal elements of the economic system in his book «The Wealth of Nations».

  1. Ask questions to which the following statements are answers:

Model: This work seemed easy. Did this work seem easy?

1. The development of modern economics began in the 17th century. 2. Large corporations used economists to study the way to do business. 3. Peter received his first paycheck of $135 yesterday. 4. I went into business last year. 5. First of all we decided to learn the demand of our consumers.

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