Английский язык для экономистов - Малюга Е.Н.
ISBN 5-469-00341-8
Скачать (прямая ссылка):
C.2. Decide whether these statements are True (T) or False (F).
1. According to recent studies the money supply and interest rates can be effectively changed by the traditional central bank tools.
2. Monetary policy is an instrument for moving the economy from a recession.
3. During inflation velocity may fall when the money supply is restrained.
4. Expenditures on capital goods and interest rates are mutually dependent.
5. The Fed sets the prime rate.
^ D* Vocabulary
D.I. Learn the vocabulary and make up your own sentences, money supply — the amount of money in an economy at a particular time, and the speed with which it is used
subtle (adj) — very clever in noticing and understanding
near-money — something that can easily be turned into cash, for example some types of bank deposit Unit 10. Monetary and Fiscal Policy
175
checking account — an account that allows the customer to use a checkbook and provides services such as bill payments
aggregate demand — the total demand for gods and services in an economy
issuance (n) — if an organization issues securities such as bonds and shares, it makes them available for people to buy
tight money — money that costs a lot to borrow because interest rates are high
deplete (v) — to lessen greatly in amount, contents, etc. easy money — when there is easy money, banks and other organizations are willing to lend money, and interest rates are low avail (n) ~ getting what you want
velocity of money — the number of times a particular unit of money is spent over a period of time
opportunity cost — the real cost of doing something, including the cost of things that you cannot do because of the choice you have made
recipient (n) — someone who receives something Certificate of Deposit (CD) — a sum of money left with a bank for a particular period of time, and the document showing details of this
be at odds — if two statements, descriptions, actions, etc. are at odds with each other, they are different although they should be the same
federal funds rate the interest rate banks charge each other prime rate — the most favourable interest rate for borrowing by a bank's best customers, those companies with the least risk that they will not repay the loan
D.2. Give English equivalents to the following words and expressions:
1) находиться в противоречии, не соответствовать;
2) тонкий, проницательный; умный;
3) истощать, исчерпывать запасы/ресурсы, уменьшать;
4) прайм-рейт; базисная ставка;
5) «почти-деньги»;
6) денежная масса;
7) «дешевые деньги»;
8) процентная ставка по «федеральным фондам»;
9) текущий счет; 176
Английский ЯЗЫК ДЛЯ экономистов
10) получатель;
11) депозитный сертификат;
12) совокупный спрос;
13) вмененные, скрытые издержки;
14) пуск в обращение;
15) скорость обращения денег;
16) выгода, польза;
17)«дорогие деньги».
D.3. Choose an appropriate word or expression from the box to complete the following sentences. Translate the sentences into Russian.
federal funds rate money supply aggregate
demand tight money velocity of money
at odds near-monies deplete
1. People might respond to a ... policy by quickly converting ... in their mutual fund accounts or other liquid financial investments to money in their checking accounts.
2. Bank reserves would then not fall as intended by the Fed, the interest rate would not rise, and ... might not change.
3. Total expenditures may be regarded as the money supply multiplied by the ... — the number of times per year the average dollar is spent on goods and services.
4. Statements by the Fed that it intends to increase the ... suggest a "tighter" monetary policy is coming.
5. Such added spending is obviously ... with the Fed's effort to restrict....
6. If pursued vigorously, ... can ... commercial banking reserves to the point where banks are forced to reduce the volume of loans.
7. The Open Market Committee of the Federal Reserve System can buy or sell securities on a daily basis and thus affect the ... and interest rates almost immediately.
D.4. Give synonyms for the italicized words in each sentence below, or briefly explain their meaning.
1. When the interest rate - the opportunity cost of holding money as an asset — is lower, the public will hold larger money balances.
2. Velocity might behave this way because of the asset demand for money.
3. A reverse sequence of events may cause a tight money policy to induce an increase in velocity. Unit 10. Monetary and Fiscal Policy
177
4. Changes in government spending directly affect the allocation of resources, and changes in taxes can have extensive political ramifications.
5. Monetary policy is based on the idea that expenditures on capital goods and interest-sensitive consumer goods are inversely related to interest rates.
E, Make a summary of the text
Use the active vocabulary.
^ R Grammar notes The Gerund
§ 1. Form. The gerund has exactly the same form as the present participle: changing, slowing, convening. The -ing form is usually called a gerund when it behaves like a noun and a participle when it behaves like an adjective. However, there is some overlap between these two main functions and it is often difficult to make formal distinction. In broad terms, the gerund can take the place of a noun, though it can, like a verb, have an object: She doesn't mind working overtime. They postponed launching the new model.
