1.Прочитайте текст, расположите ниже приведённые утверждения в соответствии с развитием темы текста.

1. The industrial revolution started in America in the 18^th century.

2. The system allowed the final product to be assembled in stages.

3. The workers gathered in one working place and produced goods for distribution over a large territory.

4. Water and steam provided an alternative source of industrial energy.

Early American industries depended largely on skilled artisans working in small shops to serve a local market. But the Industrial Revolution that started In England during the 18the century did not take 1оnq to cross the Atlantic. It brought many changes to American Industry between 1776 and 1860. Because labor was scarce in the United States and wages were high, employers welcomed any new method that could reduce the requirement for labor.

One key development was the introduction of the factory system, which gathered many workers together in one workplace and produced goods for distribution over a wide area. The first factory in the United States is generally dated to 1793. It was a cotton textile mill in Pawtucket, Rhode Island.

A second development was the "American system" of mass production, which originated in the firearms industry about 1800. The new system required precision engineering to create parts that were interchangeable. This, in turn, allowed the final product to be assembled in stages, each worker specializing in a specific operation.

A third development was the application of new sources of power to industrial tasks. Large water wheels and water turbines drove the machinery of early factories. As the steam engine was perfected, it provided an alternative source of energy, first for mobile operations such powering steamboats and locomotives then for factories. The textile industry, the dominant American industry for many decades, did not complete this switch to steam power until after 1860.

2. Пользуясь словарём, уточните значение и произношение слов:

Skill, employer, to require, mass production, final product, switch (to), application.

Найдите в тексте предложения с данными словами, переведите их.

3. Найдите эквиваленты слов и словосочетаний в тексте, вы­пишите их.

Как только; такие, как; не ранее 1860; в свею очередь; поэтапно.

4. Прочитайте текст, ответьте на вопросы:

1. When did the industrial revolution start in America?

2. What are the important ways of industry development?

3. What did American mass production begin with?

4. What is the role of new sources of power for industry development?

5. Разделите текст на логические части, выделите в каждой из них ключевые предложения (содержащие основную информацию). Напишите краткое содержание текста.

6. Прочитайте техт. Расскажите об изменениях в индустрии 20 и 21в.в. Озаглавьте текст.

Just as the introduction of machinery changed the lives of people and institutions of the 18^th and the 19^th centuries, so have the computer, Internet, and the cell phone revolutionized the 20^th and the 21^st. One of the results of the electronic revolution has been the creation of a world in which international trade is no more complicated than domestic trade. Among the economists studying what is often described as the global economy, few have been so influential as Robert A.Mundell. Professor Mundell’s work increased our understanding of the impact of global trade on our domestic economy, and contributed to the creation on the international currency known as euro.

He was the one to look to monetary and fiscal policy as the means of regulating the economy. As Professor Mundell demonstrated, the effectiveness of these tools depends to a large extent on whether a country is following a policy of fixed or floating exchange rates.

With interest rates falling international investors would look for higher returns elsewhere. As they would exchange their dollars for foreign currencies at the guaranteed exchange rate. Both but limited supply of foreign exchange available, the Fed (Federal Reserve Bank of the USA) would need to raise interest rates in order to attract investment, thereby defeating their original efforts. Consequently, Mundell, concluded, monetary policy could not be effective as long as foreign exchange rates were fixed.

Similarly, when exchange rates were allowed to float, fiscal policy was ineffective. Suppose, for example, that by way of fighting a recession the government increased spending with deficit financing (borrowed funds). The effect of this would be to drive up the value of the dollar, hurting exports, and choking off recovery. Why did the floating dollar become more expensive to foreigners? Because government spending put more purchasing power into the hands of consumers, thereby increasing imports. This increased the supply of dollars abroad, thereby decreasing its value and increasing the price of exports.

TEXT 6. FREE EHTERPRISE.