Complete these sentences with expressions from A opposite.

1. Eating pasta, potatoes and rice rather than meat and fish is

2. Buying your food at a small local shop rather than at a big supermarket is

3. Someone who arranges multibillion-dollar loans to governments works in

4. Someone who is heavily in debt has problematic

5. If you obtain money for investment in a business project, you raise

6. Someone who teaches about trade between countries is a teacher of

7. Pig farming is at present unprofitable and

Complete what this reporter says about Paradiso’s economy with expressions from B and C opposite.

Paradiso’s economic indicators are perfect. In the past, Paradiso imported more than it exported,

and there was a (1) : this (2) was very worrying. Now the

country exports a lot of computer equipment, but still imports most of its food: the value of

(3) is more than the value of (4) , so there is a (5) and the

(6) is positive. Prices are rising very slowly: with an (7)

of two per cent per year, (8) is under control. Of the working population,

very few are (9) : only three per cent are (10)

Look at D opposite and complete the graph and the pie charts using the information below.

The growth rate in Paradiso was around four per cent a year for ten years. A period of very fast growth followed, with the growth rate reaching 12 per cent ten years later. Growth was nine per cent in the following three years, but fell to two per cent in the year after that. It then increased steadily to reach five per cent two years ago, and has stayed at that level.

30 years ago, GDP in Paradiso came 70 per cent from agriculture, 20 per cent from industry and 10 per cent from services. At that time, GDP was US$1,000 per

person in terms of today’s dollars.

Today, GDP per person is US$10,000, coming 50 per cent from industry, 40 per cent from services and 10 per cent from agriculture.

Over +o Upu

What is the current economic situation of your country? In what ways is the government trying to influence it?

38.2

38.3

Paradiso growth rate

12

11

10

9

8

7

% 6 5 4 3 2 1 0

this

year

30 Years ago

20 Years ago

10

years ago

	/ \	I | services
)	( )	m| industry
V J		| | agriculture
Paradiso GDP	Paradiso GDP
30 years ago	this year

Paradiso GDP

Indicators 2

Going up

You use a number of verbs to describe amounts or figures going up.

Going down

You also use a number of verbs to describe

EUROPEAN CENTRAL BANK CUTS RATE IN SURPRISE MOVE

BT SHARES ADVANCE IN ACTIVE TRADING

TRADE SURPLUS JUMPS TO RECORD 1 LEVEL «•••-

Petrol prices set to skyrocket

1,000 IQBSAXED AS DEFENCE PLANT CLOSES

= Shares in BT increased in value.

= The value of exports over imports has gone up quickly.

Petrol prices are going to rise by a lot.

A defence company has told 1,000 factory employees that they are to lose their jobs.

The ECB has reduced interest rates.

UNEMPLOYMENT LEAPS TO TEN-YEAR HIGH

YAHOO! SOARS AS INTERNET EXPLOSION CONTINUES

VW PROFITS UP AS CAR SALES CONTINUE TO SURGE

amounts or figures going down.

10. i ^! ”

SEPTEMBER RETAIL ♦ SALES PLUMMET

11

GOVERNMENT SLASHES INCOME TAX TO TEN PER CENT

= The number of people without work has gone up quickly.

= Shares in Yahoo! have increased greatly in value.

= Profits in VW have increased thanks to rapidly rising car sales.

Sales in shops have fallen a lot in September.

_v = The government has reduced income tax by a large amount.

12

MEGACORP EASES ON 1 PROFITS WARNING '

= Megacorp’s share price has gone down slightly after they said that profits would be lower than expected.

EURO DIVES TO NEW LOWS

: The euro currency has fallen to its lowest value ever.

Peaks and troughs

If a figure rises to a level and then stops rising, remaining at that level, it levels off and remains steady or stable.

If a figure reaches its highest level - a peak - and then goes down, it peaks at that level. If it reaches its lowest level - a trough - and then bottoms out, it falls to that level and then starts rising again.

Boom and bust

Demand is the amount of goods and services that people want in a particular period.

A boom is when there is rising demand, and other indicators are strong.

Stagnation is when the economy is growing slowly, or not at all.

Stagflation is when slow growth is combined with prices that are increasing fast.

Recession is a period when there is negative growth, a period when the economy is producing less. A slump is a very bad recession. A depression is a very bad slump.

1. Look at these headlines containing words from A and B opposite and say whether the statements about them are true or false.