Grammar exercises

1. Define the function of the verb “to have” in the following sentences and translate them.

1. Money enables us to have the things we need to survive.

2. Money has not always been the coin and paper bills known to us.

3. Through out history various things of value have been used as money.

4. The carpenter doesn’t have to build a step for the grocer every time he wants a carton of milk.

2. Translate the following sentences paying attention to the Modal verbs.

1. The consumer has to decide by how much the good A is preferred to the good B.

2. A great increase in the supply of money in the form of bank notes and bank credit is to result in inflation, that is, a rise in the general level of prices.

3. If prices change, the consumer will have to change the quantities de­manded if he is to maintain utility at the same level.

4. Not all partners in a firm must take an active part in management.

5. The economist should be able to say which factors affect the allocation of resources for producing a particular good.

6. He ought to take a more active part in decision making on the exports strategy of the company.

7. Provided additional inputs are to be obtained, producers must have smaller risks of a fall of price between the time of making a decision and the time of selling their products.

8. Having the aim to maximize profit, the producer should make a deci­sion how to reduce inputs.

3. Explain the using of the Perfect Tense in the following sentences.

1. Gold and silver coins have been more widely accepted as payment than any other form of commodity money.

2. They have completely changed the design of dollar bills.

3. The old bills will have been withdrawn from circulation by the end of the month.

4. We had found their bank by five o’clock.

5. They will have printed money before the police come.

6. They had been printed this money for an hour before the police came.

7. The prices have been steadily increasing the wages were increased.

4. Translate the sentences with Participle II and define the function of Partciple II in the sentences.

1. The three thousand pounds sterling allocated to the marketing campaign were spent in time.

2. The fall predicted fortunately never came true.

3. The measures declared may change the situation for the better.

4. The functions of money described by these scientists are very important.

5. The money looked by us is not yet found.

6. When found the money was handed to the owner.

5. Find the correct form of Participle.

1. Market is an (organizing / organized) group of buyers and sellers of a particu­lar good who are in contact with each other and who know the level of demand and supply so that there is only one price (calling/called) the market price.

2. Changes in prices of the products (producing /produced) with the same resources will change the supply.

3. The economist is interested in factors (affecting/affected) the allocation of resources for producing particular goods.

4. Excess supply is a situation in which, at a certain price, the quantity of a particular product (demanding/ demanded) by buyers is less than the quantity (supplying/ supplied) by industry.

5. Improvements in technology may be a factor (leading to / led to) changes in agricultural supply.

6. At constant prices, an increase in income leads to an (increasing/in­creased) budget.

7. Every day in thousands of markets, consumers show which goods they prefer (making/ made) practical choices and (spending/spent) money on some particular goods rather than others.

Unit 7

fiscal management керування державним бюджетом

fiscal sphere бюджетно-податкова політика

major guidelines основні напрямки

long-term довгостроковий

attainment досягнення

to exacerbate погіршуватися

unsustainable постійний; який важко ліквідується

fiscal policy бюджетно-податкова сфера

fiscal deficit дефіцит бюджету

revenue-raising powers повноваження з збирання прибутків

to justify виправдовувати, вважати доцільним

to create створювати

to administer taxes керувати збиранням податків

to define визначати

1. Find the nouns and put them in alphabetical order.

2.Work with the a list of new words as in the example(students have to name words by heart)

Student A: scarce

Student B: raw materials

3. Find antonyms to the following words:

Destroy, short-term, improve, unjust, unimportant, unemployment, worst, universal, decline, wealth, simple.

4. Find the verbs and put them in alphabetical order.

5. Make up sentences with these verbs.

6. Find word combination and make up sentences starting with phrase:

It is necessary…; I understand; It is necessary to notice; I’m sorry, but I can’t.

7. Read and translate sentences only with new lexis.

1. Public debts have reached unsustainable levels.

2. Fiscal policy is a policy adopted by a government for raising revenue to meet expenditures.

3. Financial policy is based on strategic guidelines which set long-term and medium-term prospects.

4. Some countries have problems with internal and external balance.

5. The revenue-raising powers and control over expenditure can be vested in various levels of government.

6. Central to these solutions is fiscal policy.

7. Governments give increasing attention to expenditure priorities and the structure of taxation.