5.3. Прочитайте текст и отметьте, истинны или ложны (True or False) данные утверждения, согласно тексту. Исправьте ложные утверждения.

1. By the 1930s there had been great changes in the thinking of mainstream economists. - True

2. Keynes’ General Theory was published in the period of the Great Depression. - True

3. Keynes demonstrated that there could be no long-term unemployment. - False

4. Keynes suggested that government regulation led to economic stabilization. - True

5. Modern economists reject the ideas advanced by the “Keynesian Revolution”.- False

5.4. Найдите в тексте слова со сходным значением.

1. goods - products

2. well-known - noted

3. not to interfere - to keep hands off

4. main - general

5. to come into equilibrium - to be at equilibrium

6. ratio - balance

7. whole - total

8. to go up - increase

9. usual - conventional

5.5 Составьте фразы из слов в колонках A и B.

1) to amass	c.a fortune
2) to find	e. a job
3) market	h. price
4) business	f. failure
5) economic	g. thinking
6) to increase	a. demand
7) to reverse	b. the trend
8) full	i. employment
9) influential	d. economist

5.6 Дайте развернутые ответы на вопросы в письменной форме.

1. What is the “Keynesian Revolution”?

By the 1930s many economists probubly would agrud with Adam Smith who thought the best thing government could do to help the economy would be to keep its hand off. The 1930 s was the period of Yreal Depression, the unemployment and business fuilure had reached record proportions. In 1936 Keynes published his book "Yeneral Theorey of employment, Interest and Money" . He demonstrated that unemployment could persist indefinitely and the government had to abandon laissez faire in favor of an active role in econimic stabilization. In the 1930s Keyes's ideas were regarded as revoltionary.

2. Are Keynes’ ideas applicable to your country’s present economic situation?

I think that the ideas of Keynes are suitable for the economic situation in our country as a market economy is not peculiar equilibrium, ensuring full employment. The reason for that - a tendency to save part of the revenue, which leads to the fact that aggregate demand is less than aggregate supply. To overcome the propensity to save is not possible. There fore, the state should regulate the economy, the impact on aggregate demand: an increase in money supply, lowering interest rates (stimulation of investment activities). Lack of demand is compensated by the public works budget.

UNIT 6

6.1 Подберите правильный перевод к словам и фразам.

1) comparative advantage	d) сравнительное преимущество
2) tariff (n)	g) пошлина
3) obtain (v)	b) получать, приобретать
4) free trade	h) свободная торговля
5) exchange (n)	a) обмен
6) specialize (v)	c) специализировать(ся)
7) industrial power	e) промышленная держава
8) protection (n)	f) протекционизм