IV. Test

1. The rate of ... depends on the growth of prices of goods and services.

a) spending

b) unemployment

2. An ... is what people earn.

c) performance

3. The equilibrium output of cars in the UK will increase if international ... of UK car producers improves.

d) household

e) concerned

f) income

4. Macroeconomics studies the total demand for goods by households or the total ... on machinery by firms.

g) issues

h) variety

i) competitiveness

5. The world income is the total of all the incomes ... by all the people in the world.

j) inflation

k) deliberate

6. A model is a ... simplification of reality.

l) earned

7. The government can affect the ... of the economy by means of policy measures.

8. Some economists say that high ... is necessary to keep inflation under control.

9. Microeconomics is ... with detailed understanding of particular markets.

10. Many macroeconomic ... are often discussed in newspapers and on TV.

1) to keep a) track;

b) sum;

c) look.

2) to borrow a) tax;

b) money;

c) cost.

3) to look for a) weight;

b) world;

c) work.

4) to achieve a) detalization;

b) macroeconomics;

c) economy

5) to set a) piece;

b) price;

c) issue.

6) to levy a) taxes;

b) prices;

c) races.

a) the percentage of the labour force that is unemployed;

1. labour force;

2. retail price index;

b) the percentage increase in the average price of goods and services;

3. unemployment;

4. inflation rate;

c) increases in real Gross National Product;

5. unemployment rate;

d) the number of people working or looking for work;

6. economic growth.

e) a measure of the number of people registered as looking for work but without a job;

f) a weighted average of the prices households pay for goods and services.