Text 12

Inflation

Inflation is generally defined as a persistent rise in the price level with no corresponding rise in the output, which leads to a corresponding fall in the purchasing power of money.

Mild inflation of a few per cent each year may pose few difficulties for business.

Hyperinflation, which entails enormously high rates of inflation, can create big problems for the country and its inhabitants.

Vocabulary

fall – падение

mild inflation – низкая инфляция

hyperinflation – гиперинфляция

output – производство товаров, продукция

per cent - процент

persistent rise – неуклонный рост

purchasing power of money покупательная способность денег

rate – уровень, ставка, курс

TASKS

Task 1. Find in the text English equivalents for the following:

1. неуклонный рост;

2. не сопровождающийся подъемом производства;

3. покупательная способность денег;

4. особых проблем не представляет.

Task 2. Translate the following sentence and explain the use of “few” and “a few”.

Mild inflation of a few per cent each year may pose few difficulties for business.

Task 3. Give anonyms to the following words:

high

enormous

general

rise

fall

creation

Task 4. Which one doesn’t logically fit the group?

1. rise, fall, general, hyperinflation;

2. inflation, rate, corresponding, price;

3. difficulties, money, problems.

Task 5. Full in the gaps with the proper preposition.

Inflation is generally defined as a persistent … the price level … the price level … no corresponding rise … the output, which leads … a corresponding fall in the purchasing power … money.

Task 6. Match the terms in column A with their definitions in column B.

A.

1. purchasing power

2. output

3. inflation

B.

a) a continuing increase in the prices of goods and services

b) the amount of goods or services produced by a factory, company

c) the amount of money that a person, company has available to spend on goods and services

Task 7. Match the Russian word combinations in column B with the English ones in column A.

A

anticipated inflation

creeping inflation

demand-push inflation

galloping inflation

latent inflation

wage-push inflation

B

предполагаемая инфляция

гиперинфляция

скрытая инфляция

инфляция, вызванная ростом заработной платы

инфляция, вызванная превышением спроса над предложением

ползучая (медленная) инфляция

Task 8. Answer the following questions.

1. What is inflation?

2. What is the difference between mild inflation and hyperinflation?

3. In which case does inflation bring enormous problems for the country and its inhabitants?

Text 13

International trade

International trade is the exchange of goods and services between different countries. Depending on what a country produces and needs, it can export (sell goods to another country) and import (buy goods from another country).

Government can control international trade. The most common measures are tariffs (or duties) and quotas.