Vocabulary Notes:

1. private ownership частная собственность, право на частную

собственность

2. involvement n вовлеченность

3. intervention n вмешательство (в экономику)

4. fair adj справедливый

5. dampen v сдерживать, замедлять

6. state adj амер. относящийся к отдельному штату

7. agency ведомство

8. labour relations трудовые отношения

9. deregulation n уменьшение государственного регули-

рования

10. burden n бремя

11. specific adj конкретный

12. money supply денежная масса

Ex. 24. Answer the following questions:

1. How is economic coordination achieved in a market economy?

2. What debate is continuing?

3. What characterizes an economy based on free enterprise?

4. What role does government play in the American free enterprise system?

5. What is regulated closely in the American economy?

6. What trend, as to the role of government, has been observed in the U.S. in recent years?

7. How does the U.S. government affect the economy?

Unit 10. The Financial System

Ex.1. Read the following words and word-combinations:

1. financial institution финансовый институт (организация)

2. stock exchange фондовая биржа

3. currency exchange валютная биржа

4. embrace охватывать, включать

5. budgeting составление бюджета

6. financial assets финансовые активы

7. flow (flew, flown) течь, перетекать

8. saver зд. вкладчик

9. funds средства

10. borrower заемщик

11. link связывать

12. intermediary посредник

13. futures фьючерс

14. bank lending банковские ссудные операции

15. option опцион

16. eurobond еврооблигация

Ex.2. Translate the following sentences into Russian paying attention to the Complex Subject.

1. Low demand is believed to be one of the main problems facing the country.

2. The loans are unlikely to be repaid.

3. The government is sure to start working out the details of its public spending cuts.

4. Turkey seems to be on the road to economic growth.

5. Little progress seemed to have been made in correcting the economic difficulties of Uruguay.

6. Export prices are estimated to have fallen.

7. A long-term (долгосрочный) contract for the supply of rise is reported to have been offered by Brazil.

8. Gross Domestic Product of Columbia is estimated to have risen by about 7%.

Ex.3. Translate into Russian paying attention to the Absolute Participle Construction.

1. The meeting being over, the participants left the hall.

2. Any economic system includes businesses, units of government and not-for-profit organizations, all of them having much in common.

3. Enterprises must be well-run, with the staff knowing their duties properly.

4. Managers must be competent, efficient and flexible, ability to handle people being the major skill.

5. Ability to talk to people and to persuade them is very important, loyalty towards the organization being even more important.

6. Written communication skills are very important, oral communication skills being equally important.

7. Businessmen are supposed to know how to hold talks and discuss business matters, business letter writing remaining an indispensable part of their work.

8. Businessmen settle matters through correspondence or telephone calls, personal meetings being the major communication tool.

9. Exports of the country have increased, oil being an important export item.

Ex.4. Read and translate the text.