- •Reading drills
- •1. Practise the pronunciation of the following words:
- •Comments
- •Vocabulary exercises
- •I. Find equivalents:
- •II. Match the synonyms:
- •III. Fill in the blanks with prepositions or adverbs if necessary:
- •IV. Match each term in Column a with its definition in Column b:
- •V. Define which of the following items best completes the statement:
- •IX. Retell the text a using the following words and
- •Reading drills
- •1. Practise the pronunciation of the following words:
- •Comments
- •V. Define which of the following items best completes the statement:
- •VII. Complete the following sentences:
- •VIII. Answer the following questions:
- •IX. Translate into English:
- •X. Replace the Ukrainian words and phrases by suitable English
- •Grammar exercises The Participle. Forms and Functions
- •I. Give all the participial forms of the following verbs:
- •III. Replace one of the predicates by Participle I:
- •IV. Replace the parts in bold type by Participle Phrases:
- •V. Translate into Ukrainian:
- •VI. Define the forms of the Participle:
- •VII. Translate into English:
- •VIII. Define the functions of the Participle:
- •IX. Translate into English:
- •Complexes with the Participle
- •X. Combine the two sentences into one using complexes
- •XI. Use the Participal Complex instead of a Subordinate Clause:
- •XII. Translate into Ukrainian:
- •XIII. Practise the following according to the pattern:
- •XV. Answer the following questions:
- •XVI. Translate into Ukrainian:
- •XVII. Translate into English:
- •XVIII. Replace the Subordinate Clause by the Absolute
- •XIX. Translate into Ukrainian:
- •XX. Translate into English:
- •Exercises for individual work
- •I. Open the brackets, using the correct form of the Participle:
- •II. Complete the sentences using the Participle or complexes
- •III. Combine the two sentences into one using complexes
- •IV. Use the Participal Complex instead of a Subordinate Clause:
- •V. Translate into English:
IX. Retell the text a using the following words and
word-combinations:
a single producer; aggregate supply; total amount of goods and services; capital goods; adequate supply of natural resources; consumption, skilled and highly motivated labour force; national income accounting; efficiency; to keep track of production, to keep with a task; final goods; to trace long-run trends in the economy; saving and investment; to form new public policies; to improve the economy; Gross National Product (GNP).
Reading drills
1. Practise the pronunciation of the following words:
a) stress the first syllable:
daily, complex, aggregate, output, concept, spending, household, occupy, boom, partnership, private, purchase;
b) stress the second syllable:
advanced, behaviour, expenditure, proprietorship, responsible, external, produce, producer, product, production, productive, export, import, investment, investor, involve, decision, recession, computer.
Text B
An advanced country like the United States is very complex. It involves millions of individual decision-making units1 — individuals, business and governments make billions of decisions daily.
Microeconomics is the branch of economics that deals with decision-making and other behaviour by these individual units. Another branch of economics, known as macroeconomics, deals with large groups or aggregates. Because GNP deals with the output of the country as a whole, it is macroeconomic concept.
As a first step in understanding the macroeconomy we think of the economy as being made up of several different parts called sectors. These sectors represent individuals, business, government and foreign markets. The sum of expenditures of these sectors is known as aggregate demand2. When aggregate demand or spending falls over a period of one to two years, the economy tends to go into recession, while a rise in aggregate demand tends to lead to booms in the economy.
One sector of the macroeconomy is the consumer sector. The basic unit in this sector is the household, which is made up of all persons who occupy a house, apartment, or room.
A second sector is the business, or investment sector. It is made up of proprietorships, partnerships, and corporations. It is the productive sector responsible for bringing the factors of production together to produce output.
A third sector in the macroeconomy is the government, or public sector. It includes the local, state and federal levels of government.
The foreign sector is the fourth sector of the macroeconomy. It includes all consumers and producers external in the United States3.
The United States, for example, exports computers, airplanes, and farm products to foreign buyers. It also imports a large number of different items from foreign countries. It makes no difference whether foreign buyers are governments or private investors or if purchases are made from governments or private individuals. They are all part of the foreign sector.