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If the government chooses to borrow from the public to offset a tax reduction, the money it borrows cannot be spent by the lenders.

-The federal government can also finance its debts by printing money.

Unfortunately, such increases in the money supply tend to fuel inflation by pushing up prices. For that reason a number of economists are opposed to this strategy.

Fiscal policies must be timed so that they are applied at the right moment.

Monetary Policy. Monetary policy refers to regulating the supply of money as a way of stabilizing the economy. Monetary policy is the responsibility of the Federal Reserve System.

There is a direct relationship between the amount of money in circulation and the level of business activity. When the money supply is increased, consumer spending and business spending tend to increase with it. It follows that in time of contraction and recession, an increase in the money supply will help to bring about economic recovery. When the opposite situation prevails and the booming economy is pushing up prices in an inflationary spiral, a reduction in the money supply will serve to reduce demand and lower prices

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І. Лексико-граматичний тест:

1. Over 75 countries in______world use______English as______official language.

a)the, -, the c)the,the,a

b) a, —, the d) the, -, -

2._____ English is one of_______working languages of UN and______International Olympic Committee.

a) -, the, the c) the, the, the

b)the, - ,the d)the,the, -

3.______President Pompidou recommended______re­turn to______totally unpolluted French without______

English words.

a) -, a, -, - c) the, -, -, -

b) the, a, —, — d) the, a, the, —

4. ______ Indian meal consists of______ meat dish,______bread and______rice.

a) -, the, —, - c) an, -, the, the

b) an, -,-,-, d) an, a, -, -

5. ______ fruit rather than______desserts is served at______end of______meal.

a) -, -, the, a c) -, -, an, a

b) the, -, the, a d) -, -, the, -

6. With______right hand______Indians break______pieces of______bread.

a) a, -, -, - c) the,

b) the, the, -, - d) the, -, the, -

7.______Japan is______country of______eastern Asia in______north Pacific Ocean.

a) the, a, -, the b) —, the, - , the

c) — a, the, the d) — , a, —, the

8.______country is crossed from______north to______south-west by______mountain range.

a) the, the, the, a c) the, the, —, a

b) the, —, —, a d) the, the, the, the

9. Japan is______long country from_______north to______south, so______weather varies widely.

a) the, —, —, the c) a, the, the, the

b) a, —, —, the d) —, the, the, —

10. Since______1960s Japan has been one of______lead­ing nations producing______electronic equipment and

______cars.

a) the, the, —, - c) the, -, —, —

b) -, the, -, - d) the, the, the, the