Ex. 1. Put the words in the box into the sentences given below
| job poverty income to hire price well-being to charge inflation |
1. When _________________ comes in at the door, love flies out of the window
2. The farmer couldn’t _____________a much higher price because no one would buy his rice.
3. She was working at two__________________.
4. They live beyond their ___________________.
5. Shops often reduce their prices at certain time of a year.
6. He's the person responsible for ____________ and ____________ people in the organization.
7. The rate of ___________________ in our country is rather low.
8. _______________ of the population of a country depends upon the growth of nation’s output.
Ex. 2. Match the words with their definitions.
| _____ income | a) the condition of being without adequate food, money, etc |
| _____ inflation | b) the totality of social relationships among organized groups of human beings or animals |
| _____ GNP | c) the amount of monetary or other returns, either earned or unearned, accruing over a given period of time |
| _____ poverty | d) the price paid or required for acquiring, producing, or maintaining something, usually measured in money, time, or energy |
| _____ facilities | e) the cost at which anything is obtained |
| _____ prosperity | f) a progressive increase in the general level of prices |
| _____ society | g) the total value of all final goods and services produced annually by a nation |
| _____ cost | h) the means or equipment facilitating the performance of an action |
| _____ price | i) success or wealth |
Ex. 3. Group the following words into eight synonymous groups.
| aggregate shelter decide whole | output chief welfare settle | area lodging major production | big total field well-being | prosperity product gross main | determine huge sphere housing |
Ex. 4. Replace the words in italics by synonyms from exercise 3.
1. Macroeconomics deals with aggregate employment and unemployment.
2. The key to prosperity in an economy is steady growth in national output.
3. Macroeconomics deals with economic factors such as total nationaloutput and income, . . .
4. Economics is divided into two major branches: macroeconomics and microeconomics.
5. Microeconomics theory is used widely in many areas of applied economics.
Ex. 5. Match the verbs in the left column with the nouns in the right column.
| to improve to charge to produce to form to construct to consume to smoke to build to employ to hire to knit to determine | cars the demands people a road the well-being the price things the T-shirt national output the bacon factors of production the housing |
Ex. 6. Form the word-combinations with the help of the preposition “of”, using the words
From the columns and translate them into Russian.
| suppliers level areas field rate well-being consumers size | of | population labour Gross National Product inflation price applied economics economics goods |
Ex. 7. Translate the words and phrases given in brackets.
1. Macroeconomics deals with economic factors such as (совокупный продукт) and income.
2. Microeconomics theory is used widely in many areas of (прикладной экономики).
3. Macroeconomics deals with (совокупной) employment and unemployment.
4. Macroeconomics deals with economic factors such as(уровень цен) and the (уровень
инфляции).
5. The central components of microeconomics are demand, supplyand (рыночное равновесие).
6. Macroeconomic theory is largely concerned with what determines the size of (валовой
национальный продукт).
7. When growth in (объема продукции) exceeds its growth in population, this improves the
(благосостояние) of the population of a country.
COMPREHENSION
Ex. 8. Complete the ideas.
1. Macroeconomics looks at the economy in the large . . .
2. The key to prosperity in an economy is steady growth in national output . . .
3. Macroeconomics deals with aggregate employment and unemployment . . .
4. Microeconomics theory is used widely in many areas of applied economics . . .
5. Microeconomics looks at the individual unit . . .
Ex. 9. Multiple choice.
1. There was a _________ period in the 19th and early in the 20th centuries when microeconomic
questions dominated in economics.
a. short
b. long
c. extended
2. Microeconomics deals with the functioning of ___________ industries and the behaviour of
individual economic decision-making units.
a. individual
b. single
c. aggregate
3. In microeconomics firms are studied as ___________ of products and as consumers of labour and capital.
a. producers
b. suppliers
c. distributors
4. The key to prosperity in an economy is steady growth in national output.
a. steady
b. slow
c. rapid
5. When growth in nation’s output exceeds its growth in population, this _____________ the well-being of the population of a country.
a. improves
b. makes better
c. makes worse
6. Another __________ question that microeconomics addresses is who gets the things that are
produced.
a. important
b. big
c. large
7. It is _________ to see that understanding individual micro decisions is very important to any
understanding of your society.
a. not easy
b. difficult
c. easy
8. There was a ________ period in the 19th and early in the 20th centuries when microeconomic
questions dominated in economics.
a. long
b. short
c. continuous