National Economy of the usa

The American economy is a free enterprise system, the result of labour (Am. labor) of millions of American workers; the results of the wants that American consumers usually express in the marketplace; the efforts of private business; and the results of government officials activity at all levels aiming to make the Americans' quality of life the best one and living standards high.

The United States of America is a highly developed industrial country. It is the world's leading producer of copper and oil and the world's second producer of iron ore and coal. Among the most important manufacturing industries are the production of aircrafts, cars, computers and other hi-tech equipment, textiles, radio and television sets, armaments, furniture and paper. Together, all sectors of the American economy produce almost $5,000 billion worth of goods and services annually, and each year they turn out almost twenty five times more. The consumption of these goods and services is spread widely. Most Americans consider themselves members of the middle economic class.

The government supports the development of transportation in the country: the railroads and the airlines make the country's transport network the best one. It checks the purity of foods and drugs, insures bank deposits and guarantees long-term loans and mortgages to its citizens.

With increasingly improved farm machinery, seed and fertilizers, farmers produce more food each year, although the number of farmers decreases annually. America exports about 550,000 mln worth of farm products each year, it produces as much as half the world's soybeans and corn, and vegetable oil.

American industries have become increasingly more service-oriented. Of 16 million new jobs created lately, almost 85 per cent have been in service industries: selling, stocks and goods speculations, hotel and tourism services, financial and auditor's advise, medical services and others.

The USA is the world's largest exporter of different goods and services, investor and creditor, so its trade balance is favourable (Am. favorable), it guarantees high living standards to the Americans.

7. Speak on the topics: National Economy of Ukraine; British Economy; National Economy of the USA.

Lesson 3

1. Read, translate and act out the dialogues:

At the Bank

1. Opening an Account

Steve Kotov, a sales manager, enters a branch of Privatbank. For a moment he is uncertain what to do. Then he comes up to the counter where a young bank teller is sitting at a computer.

S: Good morning.

T: Good morning. What can I help you?

S: I'd like to open an account. I am working for GCM Co and they ask me to open a bank account for my salary. I used to get my wages paid in cash. But here they want to pay my salary into an account.

T: Well, nowadays a lot of people have their salary paid directly into a bank account. I am opening a checking account for you. (GB current account)

S: What is a checking account? Is it something special?

T: No, it isn't. A checking account is an ordinary bank account. It's just the account you need. You can receive money, you can pay in money, you can withdraw money and you can transfer money from your account to other

banks accounts.

S: Are you giving me a check (GB cheque) book?

T: Yes, as soon as the account is open.

S: Can I overdraw the account?