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The Causes of Recession
1. Macroeconomics focuses on trying to understand events that affect the whole economy. A widespread decline in economic activity, when it lasts for more than six months, is called a recession. Since recessions are felt throughout the economy, it seems unlikely that the explanation for a recession will be found in the microeconomics of individual markets. The causes of recession must involve forces that have widespread influence on economic activity. Nor are these events confined to just one economy; recent U.S. recessions have put a damper on economic activity around the globe – a symptom of globalization.
2. What causes recessions? Should the government do something about it? If so, what can it do? What forces bring a recession to an end, allowing resumption of normal levels of sales, employment and production?
3. Another example of a problem in macroeconomics is inflation-a pervasive and persistent rise in prices. Since inflation reflects price changes that are widespread across many different industries it seems clear that the explanation for inflation
must lie with factors affecting the entire economy. Recession and inflation are central problems in macroeconomics.
4. The division of economics between microeconomics and macroeconomics is not a precise one. For example, the computer industry is of growing importance to the economy, but the study of the economics of that industry belongs in the domain of microeconomics. On the other hand, although banking is also an industry, the study of banking is usually considered part of macroeconomics.
VII. Answer the questions:
1. What is a recession?
2. What is inflation?
3. Is the division of economics between microeconomics and macroeconomics a precise one?
VIII. Complete the sentences (1- 9) with the words (a-i):
a) employees b) drought c) commodity d) benefits e) corporation
F) transactions g) skills h) deficit i) famine.
1. In foreign trade ……….… various models of payment are practiced.
2. If a country buys more than it sells, it will have a …….. .
3. A ………… is owned by persons, called stockholders.
4. Many ……..… have a five- day working week.
5. ……….are money that the government gives to people who need help.
6. The village has been hit by a devastating………. .
7. Some companies want retired people with ……….to return to work.
8. There were reports of refugees dying of ………...
9. One big ……… that Saudi Arabia exports is oil. Оформите ваши ответы в данной таблице:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
IX. Match (1-9) with (a-i) to make up sentences:
| 1. Economic Growth often creates the best opportunities for those 2. Unemployment is a major cause of poverty 3. With increased tax revenues the government can spend more 4.Microeconomics is a bridge 5. The aim of studying macroeconomics is 6. Money has many advantages 7. Business cycles are the patterns 8. In the beginning of the industrial revolution, 9. Most of the Aboriginal peoples of central Canada | a) on important public services. b) lived by hunting and gathering. c) who are highly skilled and educated. d) higher growth led to people working lower hours. e) because the unemployed have little income. f) of expansions & contractions in the economy. g) over the barter system . h) to understand how an economy works. i) between the businesses and the end consumers . |
Оформите ваши ответы в данной таблице:
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
Variant VII
I. Choose the correct item.
1. The firm … a new water supplier at the moment.
a) is trying out b) tries out
2. They … next week to sign the lease.
a) are meeting b) meet
3. Because of the banking crisis, banks … lending.
a) were reducing b) reduced
Оформите ваши ответы в данной таблице:
| 1 | 2 | 3 |
Дата: 2019-07-24, просмотров: 525.