5.3 Прочитайте текст и отметьте, истинны или ложны (True or False) данные утверждения, согласно тексту. Исправьте ложные утверждения.

1. By the 1930s there had been great changes in the thinking of mainstream economists. False

2. Keynes’ General Theory was published in the period of the Great Depression. True

3. Keynes demonstrated that there could be no long-term unemployment. False

4. Keynes suggested that government regulation led to economic stabilization. True

5. Modern economists reject the ideas advanced by the “Keynesian Revolution”. False

5.4 Найдите в тексте слова со сходным значением.

1. goods commodities

2. well-known noted

3. not to interfere to keep its hands off

4. main prevailing

5. to come into equilibrium to come into balance

6. ratio proportion

7. whole general

8. to go up to increase

9. usual conventional

5.5 Составьте фразы из слов в колонках a и b.

A. 1) to amass c B. a. demand

2) to find e b. the trend

3) market h c. a fortune

4) business f d. economist

5) economic g e. a job

6) to increase a f. failure

7) to reverse b g. thinking

8) full i h. price

9) influential d i. employment

5.6 Дайте развернутые ответы на вопросы в письменной форме.

1. What is the “Keynesian Revolution”?

The suggestion that government abandon laissez faire in favor of an active role in economic stabilization was regarded as revolutionary in the 1930s. Since then, however, the ideas advanced by the “Keynesian Revolution” have become part of conventional wisdom. Now, whenever a nation appears to be entering into a period of recession or inflation, economists and others immediately think of steps the government might take to reverse the trend.

2. Are Keynes’ ideas applicable to your country’s present economic situation?

In my opinion, they aren’t. The state property in Russia was privatized 20 years ago and almost the whole business was concentrated in the hands of private entrepreneurs. Degree of state intervention in the sphere of economy is currently limited to legal and tax areas. However, some scientists (for example, A. Markova, A. Hudokormov, S. Afanasev) believe Keynes’ ideas are timely and applicable at this stage of economic development.

UNIT 6

6.1 Подберите правильный перевод к словам и фразам.

1. comparative advantage d a) обмен

2. tariff (n) g b) получать, приобретать

3. obtain (v) b c) специализировать(ся)

4. free trade h d) сравнительное преимущество

5. exchange (n) a e) промышленная держава

6. specialize (v) c f) протекционизм

7. industrial power e g) пошлина

8. protection (n) f h) свободная торговля