Контрольні питання

* Другий рівень – середній. Знати слова та словосполучення з теми та вміти використовувати в реченнях; знати основні поняття та правила.

** Третій рівень – достатній. Знати основні визначення, поняття та правила. Вміти використовувати їх в зв’язному мовленні. Відповідати на питання.

*** Четвертий рівень – високий. Визначати проблемні питання. Вміти логічно та вільно висловлюватися в межах вивчених тем.

Lesson 6. The Issue of Inflation. Infinitive Constructions.

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*Task I. Learn the vocabulary:

Refer to – стосуватися

Causes – причини

Raw materials – сировина

Fuel – паливо

Necessitate – робити необхідним, викликати

Chase - слідувати

Condition – умова, стан

Demand-pull inflation – інфляція попиту (викликана перевищенням попиту над пропозицією)

Cost-push inflation – інфляція витрат на виробництво (викликана ростом витрат виробництва)

Task II. Pay your attention to the translation of the following word-combinations:

General rise in prices, price level of gods and services, causes of inflation, cost-push inflation, to raise prices, cost of labour, raw materials, to necessitate, demand-pull inflation, to refer to the condition, available services, the amount of money

**Task III. Read and translate the text:

The Issue of Inflation

Inflation basically refers to a general rise in the price level of goods and services over time. There are any causes of inflation, according to economists. Two of the most important are:

cost-push inflation and demand-pull inflation.

Cost-push inflation refers to the fact that business people raise prices when the costs of various factors of production go up. For example , increase in the cost of labour , machinery, raw materials, fuels, and credit necessitate higher prices.

Demand –pull inflation refers to a condition in which buyers want to buy more goods and services than are available at the time. The demand of goods and services is related to the amount of money in the economy. If the supply of money increases faster than the production increases, the result is inflation. This is called “too much money chasing too few goods”

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*Task IV. Give the equivalents to the following in English:

Рівень цін на товари та послуги, причини інфляції, піднімати ціни, витрати на фактори виробництва, вартість праці, сировина, пальне, викликати підвищені ціни, стосуватися кількості грошей

**Task V. Answer the questions on the text:

1. What does the issue of inflation refer to?

2. What are the main causes of inflation?

3. How can you define cost-push inflation?

4. What necessitates high prices?

5. What does demand-pull inflation refer to?

***Task VI Definition of the key terms

Gross national product (GNP)-	the total value of a country's output of goods end services.
Net national product (NNP)-	the output of goods and services beyond that which is needed to replace worn-out machinery, equipment, and capital goods.
Productivity -	the total output of goods and services in a given period of time divided by work hours (output per work hour).
inflation -	a general rise in the prices of goods and services over time.
Cost-push inflation -	refers to inflation caused by rising business costs.
Demand pull inflation -	refers to inflation caused by excessive demand for goods and services.
Consumer price index (CPI)-	measures changes in the prices of about 400 goods and services that consumers buy.
Producer price index -	measures changes in the prices businesses pay for goods and services over time.
Recession -	two consecutive quarters of negative growth in real GNP (GNP adjusted for inflation).
Depression -	a severe form of recession (see recession).
Stagflation -	stagnant economic conditions (no growth)combined with inflation.
Supply-side economics-	the policy of lowering taxes so that more money is invested in production, leading to an increase in production activity, causing a drop in unemployment
Monetary policy -	the management of the amount of money placed into the economy by the government and the management of interest rates.
Federal deficit -	the difference between government revenue from taxes and government spending.
National debt -	the sum of money the government has borrowed and not paid back.
Fiscal policy -	government efforts to keep the economy stable by increasing or decreasing taxes or government spending.

Task VII The use of the Infinitive and Infinitive Constructions.