- •Demand and Supply
- •Vocabulary notes
- •I. Translate from Russian into English
- •II. Match the words in English with their Russian equivalents
- •III. True or False?
- •IV. Complete the table.
- •V. Fill in the blanks with the words in the frame.
- •VI. Choose the correct answer.
- •VII. Read the text below and translate it into Russian.
- •VIII. Translate from Russian into English.
- •IX. Discussion Questions.
- •Microeconomics and Macroeconomics
- •Vocabulary notes
- •I. Match the words from the text with their corresponding definitions.
- •II. Choose the correct alternative to complete each sentence.
- •III. Fill in the spaces with the words below:
- •IV. Read the text below. Choose the best alternative from the box to fill in each of the gaps.
- •V. Which of the following statements are the concern of microeconomics and which of macroeconomics?
- •VI. Translate from Russian into English.
- •Unemployment
- •Vocabulary notes
- •I. Find in the text English equivalents for the following:
- •II. Consult the dictionary and give Russian equivalents for the followin:
- •III. Find words or expressions in the text which correspond to the following definitions:
- •IV. True or false?
- •V. Fill in the gaps with the words from the frame.
- •VI. Choose the correct answer.
- •VII. Translate into English
- •VIII. Discussion Questions
VI. Choose the correct answer.
1. The unemployment rate is:
a) the percentage of the population who are unemployed
b) the percentage of the labor force who are not able to find work
c) made up of workers who have lost their jobs
d) none of the above
2. The unemployment rate may understate the amount of unemployment because:
a) some unemployed workers become discouraged and leave the labor force
b) some people are underemployed
c) both a and b
d) none of the above
3. Workers laid off for a predictable part of the year make up:
a) structural unemployment
b) cyclical unemployment
c) seasonal unemployment
d) frictional unemployment
VII. Translate into English
1. Экономисты используют термин фрикционная безработица (она связана с поисками или ожиданием работы) в отношении работников, которые ищут работу или ждут получения работы в ближайшем будущем.
2. Разница между фрикционной и структурной безработицей весьма неопределенна. Существенное различие состоит в том, что у “фрикционных” безработных есть навыки, которые они могут продать. А “структурные” безработные не могут сразу получить работу без переподготовки, дополнительного обучения, а то и перемены места жительства; фрикционная безработица носит более краткосрочный характер, а структурная безработица более долговременный и поэтому считается более серьезной.
3. Под циклической безработицей мы понимаем безработицу, вызванную спадом, то есть той фазой экономического цикла, которая характеризуется недостаточностью общих, или совокупных, расходов.
VIII. Discussion Questions
1. How are the population, the labor force, and employment related?
2. Does the unemployment rate measure the amount of unemployment? Explain.
3. Classify the following as frictional, seasonal, cyclical, structural, voluntarily or classical unemployment:
a) Aunt Ettie fires her elderberry pickers at the end of the season.
b) Cousin Clyde lost his job when the sales of his firm and other firms went
down.
c) Cousin Katy got tired of the cold, quit her job in Cleveland last week, and
found a new job in Orlando. She starts next month.
d) Barney went to school to be a buggy whip maker and cannot find a job.
e) The union went on strike for an 8 % pay rise. They got it, but the company laid off ten of us.
f) It’s crazy- the only jobs available round here pay less than I get from Social Security
4. What do you believe full employment should be and why?