Дайте відповіді на запитання
1. Under what circumstances do nations attain wealth and function best?
2. Why do doctors make more than bus drivers?
3. What was Adam Smith's idea of democracy?
4. What role should government perform according to A.Smith?
5. Explain A. Smith's statement: "Prices and incomes will find their natural level in an economy which is powered by free enterprise and individualism".
Варіант №2
Розкрийте дужки, вставляючи прикметник у потрібній формі ступеня порівняння. Речення перекладіть.
2.1.1. Some say that Americans are ... (loud), ... (rich) and ... (noisy) than other nationalities.
2.1.2. I don't like your behaviour. You ought to be ... (respectful).
2.1.3. Public transport in England is ... (expensive) in Europe.
2.1.4. ... (soon) you take your medicine, ... (good) you will feel.
2.1.5. The boy's … (great) ambition was to become a pilot and fly …(high) and … (fast) of all.
Перекладіть рідною мовою, зважаючи на ступені порівняння прикметників та прислівників.
2.2.1. Чим цікавіша книга, тим швидше ми читаємо ії.
2.2.2. Всі його друзі вдвічі молодші за нього.
2.2.3. Чи немає шляху більш короткого?
2.2.4. Це літак самої останньої моделі.
2.2.5. Я був глибоко зворушений його турботою.
2.2.6. Спідометр показував, що машина їхала в 2 рази швидше, ніж раніше.
2.2.7. Мені подобається ця картина найбільш за всі.
Розкрийте дужки, вставляючи дієслово у потрібній часовій формі груп Perfect або Perfect Continuous. Речення перекладіть.
2.3.1. He is the most handsome man I … (ever/know).
2.3.2. I'll go and wash my eyes. I don't want my husband to se I … (cry).
2.3.3. I wasn't hungry because I … (just/have) breakfast.
2.3.4. Alice closed the magazine and rose from the sofa on which she … (lie) for more than two hours.
2.3.5. The workers say that they … (build up) a district by the beginning of 2020.
Перекладіть рідною мовою, зважаючи на зважаючи на вживання групи часів Perfect та Perfect Continuous.
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2.4.1. Вони вже другий день грають цю шахову партію та зробили 75 ходів.
2.4.2. Я дізнався ваш номер телефону у довідковому бюро та телефонував декілька разів, але ніхто не відповідав.
2.4.3. Вона сказала, що не дасть тобі іншу книги, поки ти не повернеш попередню.
2.4.4. Він прийшов на роботу і помітив, що лаборантка нічого не торкала на столі і він одраз міг стати до роботи.
2.4.5. На 1 липня я буду працювати на заводі вже 5 років.
2.4.6. Том не хотів, щоб його мати знала, чим ми займались весь цей час.
Заповніть пропуски одним із наданих слів. Речення перекладіть.
The rare situation in which all producers are too small to affect the market price is called (2.5.1) .Where even one producer can affect the price of a good by increasing or withholding output there is (2.5.2) . A market with only one producer who can fix an artificial price is called a (2.5.3) . The opposite situation, where there is only one buyer – e.g. for defence systems – is described as (2.5.4) .
The situation where there are only a few sellers is called (2.5.5) . This frequently arises in manufacturing industry because of economies of scale – continuously declining unit costs as production increases – and the cost barriers of entering an industry. A (2.5.6) is where companies in the same industry collaborate by coordinating prices, sharing out markets, etc.
| 2.5.1 a. communism | b. oligopoly | c. perfect competition |
| 2.5.2 a. capitalism | b. monopoly | c. imperfect competition |
| 2.5.3 a. competitive advantage | b. monopoly | c. monopsony |
| 2.5.4 a. nationalization | b. monopoly | c. monopsony |
| 2.5.5 a. an oligopoly | b. an oligopsony | c. a recession |
| 2.5.6 a. cartel | b. conglomerate | c. conspiracy |
Перепишіть текст за фахом та перекладіть його рідною мовою.
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John Maynard Keynes recommended governmental intervention in the economy, to counter the business cycle: an increase in government spending or a decrease in taxation during a recession, to stimulate the economy and increase output, investment, consumption and employment; and a decrease in government spending or an increase in taxation in a period of inflation. To the classical argument that in the long run economies tend to settle at a full employment equilibrium, Keynes replied that "in the long run, we are all dead."
The ultimate aim of Keynesian governmental intervention or "demand management" is full employment – when no involuntary unemployment exists. However, this is now widely considered to be impossible, and even undesirable, as it causes inflation to rise. Many economists now talk about "the natural rate of unemployment" which corresponds to optimal output, when upward and downward forces on prices and wages are in balance, so that inflation is stable. In the 1960s, it was believed that there was a "trade-off" or exchange between low unemployment and high but stable inflation. Yet the development, in the 1970s and 1980s, of "stagflation" – high unemployment or stagnation and persistent and rising inflation, seems to disprove this. It also became clear that in the long run, low unemployment, achieved by fiscal policies, results in rising inflation, because inertial inflation always rises after inevitable shocks. Since it is argued that attempts to force unemployment below its natural rate lead to accelerating inflation, the natural rate is also known as the non-accelerating-inflation rate of unemployment (or NAIRU).
Events after the 1973 oil crisis demonstrated that Keynes did not have all the answers, and the late 1970s and the 1980s saw the rise of various forms of neo-classicism, all of which agree that medium or long-term economic growth is damaged by short-term Keynesian or "stop-go" government policies to stabilize the economy.
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