3. Put four different types of questions to the following sentences (max. 20):

   1. The bank took no action for several months.

   2. They will ask you a lot of questions at the interview.

   3. The company has given us a discount.

   4. They fired him last month.

4. Open the brackets and put the verbs into the proper tense (max 10):

   1. The Bank of England (to announce) its decision at that point.

   2. Economic forces (to influence) decisions in the world of business.

   3. Each factor of production (to have) a place in economic system.

   4. We (examine) your balance sheet by that time.

   5. I just (to pass) your letter to Mr. Pitt, our commercial officer.

5. Match the following terms in column a with their definitions in column b (max. 20)

1. utility a) a failure to act, especially a failure to meet a financial obligation;

2. loan b) a temporary depression in economic activity or prosperity;

3. default c) one of the portions, usually equal, into which a debt is divided for payment at specified intervals over a fixed period;

4. recession d) property lent, especially money lent at interest for a period of time;

5. installment e) the service (electric power or water or transportation) provided by a public utility

6. Read the text and mark the following statements as True or False (max. 20):

Treasury Bill Pyramid. In the absence of any new multilateral lending since September 2008, the government had to depend ever more heavily on the chief domestic source of borrowing: Treasury bills. The end result was a 250% increase in the volume of Treasury bills in circulation in 2009, from 29 billion to 71 billion hryvnia. Active sales of these instruments have continued into 2010:

- The January monthly volume of trading in Treasury bills at local exchanges reached a record 1.4 billion hryvnia ($175.4 million), a dramatic increase from January 2009 trading volume of 45 million hryvnia.

- Furthermore, February witnessed a resurgence of foreign investor interest in Treasury bills. The volume purchased by non-residents nearly doubled last month, and now exceeds 1 billion hryvnia.

There is one crucial problem. The phenomenal rise in investor interest stems from their unusually attractive yields – sometimes surpassing 30% in late 2009, and currently averaging around 20%--which the government has kept offering to replace maturing short-term obligations with fresh issues. In essence the government's debt policies increasingly resemble an unsustainable financial pyramid scheme.

a) The volume of Treasury bills in circulation in 2009 tripled compared to 2008.

b) The government offers extremely high profit for investors.

c) In February 2010 the interest of foreign investors in Treasury bills reduced insignificantly.

Variant I

1. Match the following:

1. accounting

2. available

3. balance sheet

4. entrepreneur

5. goods and services

6. income

7. inflow

8. labour

9. legal tender

10. loan

11. owner’s equity

12. profit

13. responsibility

14. salary

15. stock market

16. supply

17. to determine

18. to earn

19. to exchange

20. to improve

1. підприємець

2. товари та послуги

3. власний капітал

4. законний платіж

5. заробляти

6. зарплата

7. прибуток

8. пропозиція

9. позика

10. праця

11. надходження

12. дохід

13. відповідальність

14. покращувати

15. обмінювати

16. бухгалтерська справа

17. наявний

18. баланс

19. фондовий ринок

20. визначати