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Vocabulary developing

Exercise 4.   In the text find the English equivalents for the following:

  1. суммарное потребление

  2. максимизация прибыли

  3. разряд макроэкономики

  4. финансово-бюджетная политика

  5. равновесие рынка

  6. ( отдельная ) семейная единица

  7. ставки процента

8. кредитно-денежная политика

Exercise 5.

Match the words from the text (1-8) with their meanings (a-h):

1. to improve a to upswing

2. to figure out b to calculate

3. explicit c detailed

4. fiscal d financial

5. monetary e currency

6. to determine f to regulate

7. output g product

8. aggregate h total

Exercise 6.

Choose the correct alternatives:

  1. The great water power of the Mississippi at Minneapolis enables the millers there to output / to input some 1,200 tons of flour per day.

  2. The aggregate / accumulated amount of labour was not so plentiful as the heads expected at the beginning of the campaign.

  3. Demand determines / defines the current prices on luxury goods.

  4. The rate / norm of surplus value is indicated in papers but it could vary from region to region.

  5. This fiscal / monetary document is already overdue.

DISCUSSION

Most of the economic topics covered on television and in newspapers are of the macroeconomic variety, but it’s important to remember that economics is about more than just trying to figure out when the economy is going to improve and what the Fed is doing with interest rates.

Visualize “micro” and “macro” with as many “pictures” as you can.

Student 1. Microeconomics is the study of small economic units.

Student 2. Macroeconomics is the “big picture” version of economics.

UNIT 2

PREVIEW

Exercise 1.

Answer the questions or predict the answers for the questions below:

  1. What are the possible criteria to define the growth in the economic state of a country?

  2. What are the likely stages of growing economically?

  3. Could you say that developed countries are constantly enjoying the economic growth and developing nations are either in a stagnation period or suffering bad times?

Vocabulary for the text

growth n

Collocations

- capital growth

- economic growth

- growth path

an increase in the value of goods and services provided in a country or area

objective n

Collocations

- to attain (gain, win) an objective

- long-range objective

-

goal, purpose

commerce n

Collocations

- domestic commerce

- foreign commerce

-

1) trading; 2) contact

promote v

-

1) to encourage; 2) to raise the job rank or title;

3) to support

capacity n

Collocations

- available capacity

- at full capacity

- capacity production

-

1) the amount of something that a factory can produce, volume, content; 2) capability

standard of living =

standard of life

-

norm, level

stock of capital =

capital stock

-

joint stock, equity stock, equity share

per capita

per person, per head

flat adj

Collocation

flat market

-

1) plain; 2) equal; 3) inactive, stagnant

emergence adj

-

1) appearance; 2) emergency

adequate adj

Collocations

- adequate response

- adequate supplies

-

1) corresponding, respective; 2) sufficient, ample, enough; 3) qualified

marginal adj

-

1) extreme, critical; 2) detrimental, ineffective

unequivocal adj

-

definite, explicit, clear

externalize v

-

1) to embody in outward form; 2) to get the result or outcome because of external factors

disruption n

Collocations

- disruption of a schedule

- disruption of production

-

1) destruction, demolition, devastation, ruin; 2) breach, trouble, violation

pattern n

Collocations

- spending pattern

- pattern of life

-

1) sample, prototype, model; 2) style, character, mode;

3) structure, scheme

aid n

Collocations

- to extend, give, offer, provide, render aid

- first aid

- urgent aid

- economic aid

-

1) help, support, assistance; 2) helper, assistant

access n

Collocations

- market access

- to gain, get access

-

availability

underclass n

-

the lower social strata

inevitable adj

-

unavoidable, necessary

consequence n

Collocations

- to take, accept, bear, face, suffer the consequences of

- be of little consequence

- be of no consequence

- far-reaching consequences

- possible consequences

-

1) result; 2) inference; 3) matter of some consequence, importance

emerge v

Collocation

- emerging markets

to arise, to appear

underweight n, v

1) deficiency in weight below a standard or requirement (n)

2) to weigh less than is usual, required, or proper (v)

overweight n, v

1) extra in weight, higher in a standard or requirement (n)

2) to weigh more than is usual, required, or proper (v)

yield n, v

Collocations

  • tax yield

  • positive yield

- to yield a profit

  1. income, revenue, earnings; 2) profit, incomings, gain (n)

  2. to gain, garner (v)

perform v

1) to do, execute, or accomplish something; 2) to acquit one s self in any business; esp., to represent sometimes by action; to act a part

surpass v

1) to become better, greater, or stronger than; 2) to go beyond; 3) to transcend the reach, capacity

break out v

1) to develop or emerge with suddenness or force; 2) to become covered; 3) to make a break from a restraining condition or situation 4) to produce for consumption

mature adj, v

Collocation

- mature product

  1. experienced (adj);

  2. to develop (v)

leverage n

1) power, effectiveness; 2) the use of credit to enhance one's speculative capacity

prosperity n

success, well-being

average n

1) a single value (as a mean, mode, or median) that summarizes or represents the general significance of a set of unequal values; 2) an estimation of or approximation to an arithmetic mean

range n, v

Collocation

- range bracket

1) a series of things in a line; 2) an aggregate of individuals in one order; 3) a direction line; 4) the horizontal distance to which a projectile can be propelled; 5) the space or extent included, covered, or used, scope; 6) a sequence, series, or scale between limits

gravity n

1) importance, significance; 2) a serious situation or problem; 3) weight

 

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