IV. Перепишите следующие предложения, подчеркните причастие I или причастие II, определите его функцию. Переведите предложения на русский язык.

1. As a result, production and jobs in some industries were shifted to other countries.

2. Money for this program is collected by a special tax, paid equally by employer and employee.

3. Licensing is very attractive for firms lacking the capital to develop operations overseas.

4. Booming house prices hurt first-time buyers much more than those already on the property ladder.

5. This investment strategy has worked extremely well, producing an annual return of 17% since 2005.

V. Перепишите следующие предложения, выбрав причастие I или причастие II. Переведите предложения на русский язык.

1. This firm is interested in the purchase of machines producing/produced by our plants.

2. Drawing up/Drawn up a contract for the sale of goods, it is necessary to give a detailed description of goods.

3. Analysed/Analysing various demographic groups, the economists find that differences between urban and rural customers are much narrower nowadays than in the earlier decades.

4. We will continue to implement the programs, aimed/aiming at developing the key directions of our operations.

5. The gross domestic product is the total value of all the services and products supplied/supplying by a country during a whole year.

VI. Прочитайте текст. Перепишите и письменно переведите абзацы №1, 2, 3. Microeconomics vs. Macroeconomics

1. Economic analysis is divided into two main branches: microeconomics and macroeconomics.

In microeconomics we take a close-up view of the economy by concentrating on the choices made by individual participants in the economy such as consumers, workers, business managers, and investors.

2. In macroeconomics we look at the economy from a broader perspective by considering its overall performance and the way various sectors of the economy relate to one another. We measure and evaluate the performance of the economy by the total value of annual production, the capacity of the economy to provide jobs, the changes in the purchasing power of money, and the growth of employment and output.

3. Microeconomics In microeconomics we analyze how individuals choose among various courses of action by weighing the benefits and costs of alternatives available to them. In microeconomic analysis we place special emphasis on the role of prices in business and personal decisions. A major goal is to understand how the prices of particular goods and services are determined and how prices influence decisions. Because of its preoccupation with prices and trading of goods and services, microeconomics is sometimes called price theory.

4. In microeconomics we study the actions of individuals as they buy and sell in market transactions. As you know, some services, such as education and police protection, are provided by government agencies rather than being sold in markets. What are the advantages and disadvantages of alternatives to markets as a means of accomplishing the basic tasks of the economy? How do political choices influence the functions and performance of the economy? We’ll examine each of these important questions as we learn to look at the economy from the micro perspective.

5. Macroeconomics In macroeconomics we study changes in total national production and consumption, averages of the prices of broad groups of goods and services, and employment of workers in the economy. Macroeconomists seek to explain the causes of economic fluctuations and to suggest policies that will make the fluctuations less abrupt, with the aim of preventing excessive unemployment and rapid price increases.

6. In macroeconomics we should place special emphasis on understanding the causes of unemployment and inflation. The unemployment rate is the number of jobless workers who are actively looking for work or who have been laid off from a job, expressed as a percentage of the total labor force. Unemployment is often a major issue in congressional and presidential elections. In fact, the federal government is required by law to pursue policies that seek to keep unemployment from becoming excessively high. If such policies are to succeed, the individuals who develop them must have a keen understanding of how the economy works.

7. Inflation is another highly charged political issue. Inflation is a general yearly increase in the average level of prices for a broad spectrum of goods and services. Inflation weakens the purchasing power of money. It can create economic instability in a nation by harming the competitiveness of firms seeking to sell products in foreign markets.