Английский язык. Практический курс для решения бизнес-задач
Шрифт:
12. effective demand – эффективный (фактический) спрос
13.interest rate – процентная ставка
14. real wage – реальный уровень зарплаты (зарплата с поправкой на инфляцию)
15. nominal wage – номинальная зарплата
16. barter n – бартер
barter v – осуществлять бартерный обмен
17. trade (labor) union – профсоюз
18. depression n – депрессия (период вялой деловой активности)
19. laissez faire –
20. inelasticity n – неэластичность (спроса или предложения)
inelastic a – неэластичный
elasticity n – эластичность (спроса или предложения)
elastic a – эластичный
21. liquidity trap – «ликвидная ловушка»
22. floor n – пол (зд. торговый зал биржи, торговые площади магазина или самый низкий уровень цен либо процентной ставки)
23. bond holder – владелец облигаций
24. deviation n – отклонение
deviate v – отклоняться
25. accelerator effect – эффект акселератора (ускорителя) (взаимосвязь темпов экономического роста и уровня инвестиций)
26. tax (price) hike – повышение налогов (цен)
27. buying (purchasing) power – покупательная способность
28. expansionary policy – политика экономического роста
29. counter-cyclical – антициклический
30. deficit spending – дефицитное расходование
31. outlay n – расходы, ассигнования, затраты, издержки
32. crowding out n – вытеснение
crowd out v – вытеснять
33. government bond – правительственная облигация
34.public goods – товары и услуги, которые служат пользе всех и являются общедоступными
35. slack n – зазор, люфт, спад (деловой активности), простой; наличие избыточных производственных мощностей, резерв
slack a – застойный, вялый, бездействующий
36. demand-side – на стороне спроса
37. cooling n – сдерживание (экономики), замедление, охлаждение
38. multiplier n – мультипликатор
multiplier a – мультипликативный
39. exogenous a – экзогенный, внешний
Exercise 1. Answer the following questions.
1. What is the most famous book by John M.Keynes? 2. What is the driving factor of the economic process according to Keynes? 3. In what way did Keynes’ theory conflict with the supply-side economics? 4. How did Keynes explain the level of output and employment in the economy? 5. How did Keynes regard the determination of wages? 6. What was the problem with excessive savings in Keynes’ views? 7. What is the
«liquidity trap»? 8. How did Keynes justify the active government policy? 9. Why did the classic economists regard Keynesianism as «fiscal madness»? 10. What is Keynesian multiplier?Exercise 2*. Find terms in the text that match definitions given below and make sentences of your own with each term.
1. the theory that excessive central government borrowing on capital markets will consume funds otherwise available for private investment
2. notes and coins that are the current medium of exchange in a country
3. a form of international exchange practiced until the 1930s. Each country’s national currency was linked by a fixed rate to gold and varied in volume with the amount of gold held
4. a fall in the purchasing power of money, reflected in a persistent increase in the general level of prices as measured by the retail price index
5. the proportion of a sum of money that is paid over a specified period of time in payment for its loan
6. the act of placing monetary resources into the creation of assets in the manufacturing and service sectors of the economy
7. a monetary situation in which interest rates fall so low that only a rise can be anticipated. Since any rise would only depress the price of bonds, the compulsion to remain in cash persists. At this point, no increase in the money supply can increase people’s preference for cash or therefore have any effect on incomes.
8. the quantity of money in circulation in economy
9. to maintain a national currency at a fixed exchange value in terms of another
10. income not spent on consumption
Exercise 3. You are a journalist writing for Fortune and you are asked to interview John Kenneth Galbraith. Make a dialogue between these two individuals using the following briefing materials.
John K. Galbraith (born October 15, 1908) is a widely read 20th century economist, from the American Institutional Economics school. The Canadian-born author of four dozen books and over one thousand articles was on the faculty of Harvard University from 1934 to 1975. He served in the administrations of Franklin Roosevelt, Harry Truman, John F. Kennedy and Lyndon B. Johnson. In 1961, Kennedy appointed him ambassador to India, where he served until 1963.
Galbraith is considered something of an iconoclast by many economists because he uses non-technical political economy instead of mathematical modeling. Additionally certain economists have alleged that he does not base his conclusions on solid research. In some of his books on economic topics he describes ways in which economic theory does not always mesh with real life.
In American Capitalism: The Concept of Countervailing Power published in 1952, Galbraith outlined how the American economy would be managed by a triumvirate of big business, big labor, and an activist government. He contrasted this with the previous pre-depression era where big business had relatively free rein over the economy.