II. Прочитайте текст со словарем. «Injections». Text VII

An injection is an addition to the circular flow of income, which does not arise from the spending of households. There are three recognized ways in which funds can flow into an economy. They can be generated through:

- investment

- government spending

- export sales

Investment is expenditure on productive capital goods. That is goods which can be used to produce other goods and services. Thus, investment is usually held to be expenditure on factories, machinery and other physical assets.

Investment can be categorized into net investment and gross investment.

Net investment is investment, which increases the nation’s stock of capital goods. It is such investment that enables the economy to grow. The main influences on the amount of investment are:

- the rate of interest since firms often have to borrow to undertake the investment;

- the firm’s expectation about the future behaviour of the economy. If they believe the economy will boom and the level of economic activity will increase, then they are more likely to enjoy increased sales. They may well decide to invest in new machinery or in a new factory.

On the other hand, if the level of investment declines then there will be less injections than previously into the economy and the rate of growth of economic activity will fall.

Government expenditure has been a very substantial total over the last 50 years. This heading covers spendings by both central government and local authorities. Government spending results in an injection of funds into the circular flow.

Let’s take as an example a decision by the Department of Transport to build a new motorway. This will lead to a variety of spending. The authorities will have to employ surveyors, lowers, accountants and construction workers and will have to purchase large quantities of construction materials. All the spending generated in this way will be an addition or an injection to the circular flow.

Exports are an injection because they result in income entering the UK’s circular flow as a result of the spending decisions of foreign households, firms and government. The UK’s trade is recorded in the balance of payment figures, which are published mounthly and then collected into annual accounts.

The balance of payments accounts are split into two broad sections: the current account, which records imports and exports of goods and services; and the capital account, which records international monetary flows in and out of the UK, such as foreign loans and investment in the UK.

Exports have always been important to the UK economy and are indisputably an engine of economic growth. They provide domestic employment not only in the exporting industry but also in the industries, which supply components and raw materials to that industry. Exports bolster the circular flow and promote employment in a range of industries. They also stimulate innovation and competition and generate a satisfying standard of living. Most of the world’s most prosperous economies are successful exporters, notably Japan and Germany.