Grammar: Second Conditionql

The verb in the if-clause is in the past tense; the verb in the main clause is in the conditional tense: If I had a map I would lend it to you.

Type 2 is used:

• When the supposition is contrary to known facts: If I lived near my office I’d be in time for work. ( But I don’t live near my office).

• When we don’t expect the action in the if-clause to take place: If a burglar came into my room at night I’d scream. (But I don’t expect a burglar to come in).

• Might or could may be used instead of would: If you tried again you would succeed. (certain result). If you tried again you might succeed. (possible result). If I had a permit he could get a job. (ability or permission).

Ex.5. Finish these sentences, taking care to use the correct tenses.

1. If he had my advice … .2. If you ate less …3. We’ll send for the doctor …4. If she practiced more …. 5. If there isn’t enough wine in the bottle …6. If you have checked the petrol before we started …7. This clock wouldn’t have run down if …8. If these gates are locked … 9. If we leave before breakfast…10. The grass would look better if …11. If you didn’t shake the camera so much, your photographs …12. I brought my coat … 13. If Tom rings while I’m out …14. Try on the blue one if ….15. Her life might be saved if …14. If your uncle sees you ….

Ex.6. Put the verbs in brackets into the correct tenses.

1. If I had a typewriter I (type) it myself. 2. I shouldn’t drink that wine if I (be) you.3. More tourists would come to this country if it (have) a better climate.4. If you (not sneeze) he wouldn’t have known that we were there.5. The hens (not get) into the house if you shut the door.6. Rome (be captured) by her enemies if the geese hadn’t cackled.

Ex. 7. Complete the following sentences, using the indicated verbs in the Simple conjugation with would. For example: We __________ if we were ready. (to come) We would come if we were ready. _____ you _____ more if you had time? (to travel) Would you travel more if you had time? If they saw us, they _____ not _________ us. (to recognize) If they saw us, they would not recognize us. _____ you not ____ glad if you were rich? (to be) Would you not be glad if you were rich? 1. If we were hitchhiking, ________ you ________ to pick us up? (to stop) 2. If we waited for him, we ________ not ________ on time. (to be) 3.________ he ________ us know if we made a mistake? (to let) 4. I ________ not _______ to have a party if you were not there. (to want) 5. If you knew more about her, you ________________ your opinion. (to change) 6.________ you ________ pizza if you did not like it? (to order) 7.________ they not ________ to come if we asked them? (to agree) 8. We ________ not _________ a car unless we were insured. (to drive)

Ex. 8. Complete the following sentences, using the indicated verbs in the Perfect conjugation with would. For example:

If it had rained, I ________________ at home. (to stay)

If it had rained, I would have stayed at home. ____ you _________ with us if we had asked you? (to come) Would you have come with us if we had asked you? If he had hurried, he _____ not ___________ the bus. (to miss) If he had hurried, he would not have missed the bus. _____ she not __________ if she had seen us? (to wave) Would she not have waved if she had seen us? 1.If he had arrived late, ________ we ______________ without him? (to begin) 2.If they had felt thirsty, ________ they not _____________ the lemonade? (to drink) 3.If we had been here, we _______ not ______________ the fireworks. (to miss) 4.If his office had called, _______ he not _______________ to work? (to return) 5.She _______ not _______________ early if she had not had a good reason. (to leave) 6.If they had searched more carefully, they _____________________ the watch sooner. (to find) 7.If you had visited Rome, _______ you ____________ to the opera? (to go) 8.She ______________________ down if she had been tired. (to lie)

Ex. 9. The following statements contain false or improbable conditions. Paying attention to the underlined adverbs indicating time, complete the following sentences, using the indicated verbs in the appropriate conjugations with would. Use the Simple conjugation for actions pertaining to the present or the future, and use the Perfect conjugation for actions pertaining to the past. For example:

If you came with us now, you _________ everything. (to see) If you came with us now, you would see everything. _____ he __________ us yesterday if we had slept in? (to wake) Would he have woken us yesterday if we had slept in? 1.If he were here now he _______ not ___________ to help us. (to hesitate) 2.I ___________________ the book last week if I had known you wanted it. (to finish) 3.______ you ______________ to him last night if you had seen him? (to speak) 4.If they were old enough, they __________________ the contest next week. (to enter) 5.______ she not ____________ a vacation now if she had more time? (to take) 6.If he had sent a message, we ______________________ it two days ago. (to receive) 7.I ____________________ it if you came with me now. (to appreciate) 8.______ she not ________ grateful if we offered to help her tomorrow? (to be) 9.______ he _____________ yesterday if he had entered the race? (to win) 10._______ they not __________________ more books last month if they had noticed the stock was low? (to order) 11._______ she not ___________ us now if she knew where we lived? (to visit) 12._______ you _________________ cucumbers yesterday if they had been on sale? (to buy)

Ex. 10. For each of the following sentences, complete the subordinate clause with the Simple Past Subjunctive of the verb shown in brackets. For example:

If he ____ in town, he would call us. (to be) If he were in town, he would call us. Would you go to the party if you ________ an invitation? (to receive)

Would you go to the party if you received an invitation? If he ___ not ____ his work, he would find another job. (to like) If he did not like his work, he would find another job. 1.If he ________ rich, he would travel. (to be) 2._________ I not anxious to meet him, I would stay at home. (to be) 3.He would have more free time if he ______ not _________ so hard. (to work) 4.If I _________ a car, I would visit Cape Breton. (to have) 5.We would take the bus if it _________ to snow. (to begin) 6.If you _________ him, you would surely recognize him. (to see) 7.I would not confide in him if I _______ not _________ him. (to trust) 8.If we _______ not _________ time, we would let you know. (to have) 9.If he _____________ an expedition, I would certainly join it. (to organize) 10.I would not worry about it if I _________ you. (to be)

Ex. 11. For each of the following sentences, complete the subordinate clause with the Past Perfect Subjunctive of the verb shown in brackets. For example: If I __________ him to do it, he would have obeyed me. (to order) If I had ordered him to do it, he would have obeyed me. Had it not ______ yesterday, we would have raked the leaves. (to snow) Had it not snowed yesterday, we would have raked the leaves. 1.I would not have got lost if I ______________ the map. (to study) 2._______ he _________ at home, we would have visited him. (to be) 3.We would have invited him if we ________________ he would come. (to think) 4.He would have applied for the job if he _______________ the advertisement. (to see) 5.We would not have ordered tea, ______ we __________ how late it was. (to know) 6.______ it not __________, they would have held the party in the park. (to rain) 7.We would have agreed with you if we _________________ what you meant. (to understand) 8.If you _____________ salt on the steps, they would not have been so slippery. (to put) 9.______ he ___________ to us, we would have known when to expect him. (to write) 10.If he ________________ to take the course, he would have had to work hard. (to choose)

Ex. 12. The following statements contain false or improbable conditions. Paying attention to the underlined adverbs indicating time, complete the subordinate clauses with the correct forms of the verbs shown in brackets. Use the Simple Past Subjunctive for actions pertaining to the present or the future, and use the Past Perfect Subjunctive for actions pertaining to the past. For example:

If she ____ here now, she would be admiring the rose bushes. (to be) If she were here now, she would be admiring the rose bushes. ___ he ______ here last week, we would have met him. (to stay) Had he stayed here last week, we would have met him. 1.If he _________ here now, we would ask his opinion. (to be) 2.We would have forgotten our tickets last night, if she ____not ________ us. (to remind) 3._____ I ________ earlier, I would have arrived on time yesterday. (to leave) 4.Would you visit Spain next summer, if you _________ enough money? (to have) 5.If it _________________ yesterday, we would not need to water the lawn. (to rain) 6.If he _________ you last Wednesday, he would have asked your advice. (to see) 7.If they __________ to leave now, they would need special permission. (to want) 8._____ they _________ of the concert yesterday, they would have arranged to go. (to know) 9.Would you not have stayed longer last week, if you ___________ able to? (to be) 10.If they ____________ the letter tomorrow, they would receive an answer in two weeks. (to write) 11.If he _____________ the book now, he would enjoy it. (to read) 12.If we _____________ more attention yesterday, we would know what time to be there. (to pay)

UNIT 14

MONEY MARKET

Text: Money and its function.

Grammar: Conditionls

Money and its function.

Although the crucial feature of money is its acceptance as the means of payment or medium of exchange, money has other functions. It serves as a standard of value, a unit of account, a store of value and as a standard of deferred payment.

Money, the medium of exchange, is used in one -half of almost all exchange. Workers exchange labor services for money. People buy and sell goods in exchange for money. We accept money not to consume it directly but because it can subsequently be used to buy things we do wish to consume. Money is the medium through, which people exchange goods and services.

To see that society benefits from a medium of exchange, imagine a baiter economy.

Money can also serve as a standard of value. Society considers it convenient to use a monetary unit to determine relative costs of different goods and services. In this function money appears as the unit of account, is the unit in which prices are quoted and accounts are kept.

In Russia prices are quoted in rubbles; in Britain, in pounds sterling; in the USA, in US dollars; in France, in French francs. It is usually convenient to use the units in which the medium of exchange is measured as the unit of account as well. However there are exceptions. During the rapid German inflation of 1922 - 1923 when prices in marks were changing very quickly, German shopkeepers found it more convenient to use dollars as the unit of account. Prices were quoted in dollars even though payment was made in marks, the German medium of exchange.

Money is a store of value because it can be used to make purchases in the future.

To be accepted in exchange, money has to be a store of value. Nobody would accept money as payment for goods supplied today if the money was going to be worthless when they tried to buy goods with it tomorrow. But money is neither the only nor necessarily the best store of value. Houses, stamp collections, and interest-bearing bank accounts all serve as stores of value. Since money pays no interest and its real purchasing power is eroded by inflation, there are almost certainly better ways to store value.

Finally, money serves as a standard of deferred payment or a unit of account over time. When you borrow, the amount to be repaid next year is measured in pounds sterling or in some other hard currency. Although convenient, this is not an essential function of money. UK citizens can get bank loans specifying in dollars the amount that must be repaid next year. Thus the key feature of money is its use as a medium of exchange. For this, it must act as a store of value as well. And it is usually, though not invariably, convenient to make money the unit of account and standard of deferred payment as well.

There are different kinds of money. In prisoner-of-war camps, cigarettes served as money. In the 19^th century money was mainly gold and silver coins. These are examples of commodity money, ordinary goods with industrial uses (gold) and consumption uses (cigarettes), which also serve as a medium of exchange. To use commodity money, society must either cut back on other uses of that commodity or devote scarce resources to producing additional quantities of the commodity. But there are less expensive ways for society to produce money.

A token money is a means of payment whose value or purchasing power as money greatly exceeds its coast of production or value in uses other than as money. The essential condition for the survival of token money is the restriction of the right to supply it. Private production is illegal. In modern economies, token money is supplemented by IOU money. IOU money is a medium of exchange based on the debt of a private firm or individual. A bank deposit is IOU money because it is a debt of the bank. When you have a bank deposit the bank owes you money. You can write a cheque to yourself or a third party and the bank is obliged to pay whenever the cheque is presented. Bank deposits are a medium of exchange because they are generally accepted as payment.