2) to purchase land for housing is expensive; we expect the corporation to purchase the land for housing; in order to purchase land for housing; for the land to be purchased for housing; the land is too far from the centre of the city to be purchased for office buildings; the land purchased for housing; purchasing land for housing, the corporation…; the corporation purchasing land for housing;
   3) для того, чтобы арендаторы взяли в аренду эту землю; арендаторы, берущие в аренду эту землю; беря в аренду землю, арендаторы…; земля, сданная арендаторам; чтобы взять в аренду землю, арендаторы… (два варианта); мы думаем, что арендаторы берут в аренду эту землю, чтобы…; аренда земли популярна среди…
 
   Задание на дом № 3
   19. Переведите предложения на русский язык.
   1. Economists say rent to be the periodic payments to the owners of land and other assets.
   2. The tenant farmer usually has certain freedom in the choice of crops and livestock raised and practices of soil cultivation applied, though the landowner may impose a number of restrictions.
   3. Profitability is the profit earned by a firm in relation to the size of the firm, measured in terms of capital or the number of workers employed.
   4. The Middle East oil kingdoms expect to use up most of their supplies of oil in about 15 years.
   5. Although a large capital-intensive plant is expensive, it can produce a large output at low cost. To use labour-intensive technology is more expensive and less efficient. So economists consider it to be profitable to choose very capital-intensive production technologies in gas, electricity and some other industries.
   6. Mass production is the manufacture of a product in very large quantities using capital-intensive methods of production. Mass production is typically found in industries where the degree of standardization of a product supplied is high, which lets manufacturers use the advantages provided by automated machinery and processes.
   7. The primary sector is part of the economy which extracts raw materials and provides agricultural crops and animal produce. Economists consider the primary sector to be essential in less developed economies where large areas are allocated to farming and mining.
 
   20. Переведите предложения на английский язык.
   1. Мы знаем, что фермеры применяют удобрения для того, чтобы заставить сельскохозяйственные культуры расти лучше.
   2. В условиях экономического кризиса уровень безработицы имеет тенденцию к росту.
   3. Мы знаем, что руда – это порода, земля и т. п., из которых можно получать металл.
   4. Некоторые экономисты предполагают, что в следующем столетии не только различные виды топлива и руд, но и водные ресурсы и плодородные почвы будут полностью использованы, что приведет к локальным, а также глобальным войнам за ресурсы.
   5. Повысившаяся рентабельность производства нефти привела к увеличению вложений в новые нефтяные месторождения (oil fields), особенно в Северном море, что ослабило контроль ОПЕК над мировыми запасами.
   6. Мы знаем, что компания British Gas добывает газ очень рентабельно в мелкой части Северного моря.
 
   21. а) Перепишите подчеркнутые предложения, используя конструкцию «сложное дополнение», для чего воспользуйтесь словами, данными в скобках после этих предложений.
   The degree of modern farming dependence upon commercial energy sources is very high (US economists, to believe). Heavy equipment requires gasoline and oil; fertilizers and insecticides are made by energy-intensive processes. This tendency was efficient as long as farm wages were rising faster than oil prices. But the sharp rise in energy prices has made the two essential sources of raising farm profitability unavailable.
   The present-day condition in the energy market is moving farm technology away from energy-intensive methods (the present-day condition in the energy market, to make).
   б) Напишите пять вопросов к тексту упр. 21а.
 
   Аудиторная работа № 3
   22. а) Вставьте пропущенные предлоги, где это необходимо.
   1. Goods in the market vary… price… the cheapest… the most expensive.
   2. The price of a good varies… its quality.
   3. The price of a good varies… as its supply changes.
   4. The price of land varies… its supply.
   5. Land varies… its quality.
   6. These goods vary greatly… price.
   7. Ore may vary greatly… iron content (содержание)… the richest… the poorest.
 
   b) Вставьте в предложения слова to vary (с нужным предлогом), various или variety.
   1. In the long run (долгосрочный период) all factors of production can be…
   2. Economists know labour to have a… of functions.
   3. Trade union organizations… greatly… country… country. The benefits general protection… advantages for some particular jobs.
   4. The degree of economic activity of trade unions….. the country.
   5. The average US supermarket has several thousand… goods on its shelves. To produce this great… of goods… machines and other inputs are needed.
   6. Countries… greatly… the importance of primary commodities, that is products of farming and mining, for their economies.
 
   23. Вставьте в предложения слова though, although, so, as, which, that, in order to.
   а) 1. European butter prices are above the free market equilibrium price…. European governments have to purchase large supplies of butter… private demanders do not want to purchase.
   2. Second and third TV sets are often purchased… enable each family member to watch different shows at the same time.
   3. World supplies of some minerals are non-renewable… real prices will eventually have to rise… ration (ограничивать) increasingly scarce supplies.
   4. In many developing countries, the factor with… they are better supplied is land… they can take advantage of the world economy by exporting goods… require intensive land use.
 
   б) In the USA there is a serious problem… water supplies are usually not owned by specific users…. results in their competitive over-use (чрезмерное использование) by farms, factories, and towns… one user can sink a well (пробурить колодец) and drain all the water supplies… they may be needed for many miles around. On a larger scale (в большем масштабе), greatly lowered levels of underground water in western states are due to huge irrigation projects…. the local authorities are much worried and are taking due measures, the problem has grown very serious in the Great Plains, in south-central Arizona, and in some parts of California
   в) Ответьте на вопрос:
   What are lower water supplies in some areas of the USA due to?
 
   24. Прочитайте текст и озаглавьте его. Кратко передайте содержание текста по– английски.
   The rising efficiency and profitability of agricultural technology in the USA is due to three essential conditions.
   First, the improvement in capital inputs. Farm machinery has grown larger and more complex. Each unit of capital can produce a larger output with about the same labour, which shows growing capital efficiency. The new equipment lets farmers both raise efficiency of their business and use less labour.
   The second condition is improved fertilizers, insecticides and chemicals for livestock (домашний скот). In recent decades, much more and better fertilizer has been applied to soil, which resulted in better crops and let farmers have more crop cycles during the year. We know chemical insect and bacteria killers to be widely used for ground and tree crops. Higher efficiency of livestock farming is due to heavy doses of medicines and specially prepared chemical feeds (корма).
   The third essential condition is better breeding (селекция). Since the 1920s, there have been genetic improvements in crops that have given faster growth, better resistance to insects and diseases, and larger yields (урожай) per plant. Livestock breeding has also become more efficient and profitable and produced better animals.

Unit 7
Circular Flow of Payments and National Income

   Грамматика и лексика:
   1. Инфинитив в функции определения
   2. Вводящее слово there
 
   Задание на дом № 1
   1. В разделе «Грамматика и словообразование» проработайте § 16 и 17.
 
   2. Переведите на русский язык следующие предложения с инфинитивом в качестве определения.
   How much more efficiently than the government the private sector uses resources remains a problem to be discussed.
   To keep the economy as close as possible to full employment is an essential aim to be reached by the government.
   Larger investments in production expansion result in smaller amounts to be saved and to be distributed as dividends.
   Durable goods are goods to be used in production in future or to be consumed over a long period of time.
   A person starting his own business should have some financial capital to be used for buying needed inputs.
   Farmers normally attract additional labour force to be used at harvest time.
 
   3. Переведите на русский язык предложения с вводящим словом there.
   Since the 1960s there has been an increasing tendency for population to move from city centres to the countryside.
   Although in a perfect market there should always be a variety of sellers, large numbers of sellers are not always available in the real life.
   There must be equilibrium between demand for and supply of goods.
   In the United States, there live at present over two hundred million people.
   There is clearly seen a tendency to put less weight on the government's role in an economy than in the past.
   There have recently been offered nationwide schemes providing incentives for industrial investment.
 
   4. Переведите текст Circular Flow of Payments and National Income и отработайте его чтение.
 
   5. Найдите в тексте:
   инфинитив в функции определения (второй, третий, пятый и седьмой абзацы);
   инфинитив в функции подлежащего (первый абзац);
   инфинитив в функции обстоятельства цели (второй и пятый абзацы).
 
   TEXT
   Circular Flow of Payments and National Income
   To have a glimpse in the working of the economy as a whole may be of use to a student of economics.
   In every economy there are lots of households to supply labour and capital to firms that use them to produce goods and services. Firms provide incomes for households, who in turn[15] use this money to purchase the goods and services produced by firms. This process is called the circular flow of payments[16].
   The gross domestic product (GDP) is the total money value of all final goods produced in the domestic economy over a one-year period. The GDP can be measured in three ways: (a) the sum of the value added[17] in the production within a year, (b) the sum of incomes received from producing the year's output, (c) the sum to spend on the year's domestic output of goods and services.
   The total money value of all final goods and services in an economy over a one-year period, that is the GDP, plus property income from abroad (interest, rent, dividends and profits) make the gross national product (GNP). The GNP is an important measure of a country's economic well-being, while the GNP per head provides a measure of the average standard of living of the country's people. However, this is only an average measure of what people get. The goods and services available to particular individuals depend on the income distribution within the economy.
   We now recognize that assets wear out in the production process either physically or become obsolete. This process is known as depreciation. There has to be part of the economy's gross output to replace existing capital, and this part of gross output is not available for consumption, investment, government spending, or exports. So we subtract depreciation from the GNP to arrive at national income.
   National income measures the amount of money the economy has available for spending on goods and services after setting aside enough money[18] to replace resources used up in the production process.
   Since output is determined by demand, the aggregate demand or spending plans of households and firms determine the level of the output produced, which in turn makes up the income available to households and firms. Aggregate demand is the amount to be spent by firms and households on goods and services.
   Governments also intervene in the circular flow of income and payments. They buy a considerable part of the total output of goods and services in an economy adding their demand to the demand of the private sector. Since government spending is a large component of aggregate demand, and since taxes affect the amount households and companies have for spending, government spending and taxation decisions, which are referred to as[19] fiscal policy, have major effects on aggregate demand and output.
 
   Словарный минимум к тексту
   whole adv целый
   as a whole – в целом
   household и (условная) семья
   gross domestic product (GDP) – валовой внутренний продукт (ВВП) (денежная стоимость всех товаров и услуг, произведенных в хозяйстве за определенный период)
   gross adj Валовой; совокупный
   domestic adj внутренний; отечественный; местный
   final goods – готовые изделия, готовая продукция
   measure v измерять
   measure и мера, показатель, измерение; система мер
   way n образ действия; метод; способ
   a way of doing smth – способ, которым делается что-л.
   in some way – каким-либо способом
   property n собственность, имущество
   abroad adv за границей, за границу
   gross national product (GNP) валовой национальный продукт (ВНП) (ВВП плюс проценты, прибыли и дивиденды, полученные из-за рубежа)
   while cj в то время как
   average adj средний
   standard of living; living standard жизненный уровень
   however adv однако, тем не менее
   distribution n распределение
   assets и фонды; имущество; активы
   wear out (wore, worn)v изнашиваться
   depreciation n 1. износ (оборудования), амортизация; 2. снижение стоимости; обесценивание
   replace v (smth by / with smth) заменять(что-л. чём-л.)
   Coal was replaced by oil. – Уголь был заменен нефтепродуктами,
   exist v существовать, быть
   spending n расходы
   since 1)prep and cj с, с тех пор как; 2) cj так как; поскольку
   determine v определять, устанавливать
   aggregate demand – совокупный спрос(совокупный спрос на все товары и услуги в экономике в какое– то определенное время)
   make up (made, made) v составлять
   considerable adj значительный; большой
   add v (to smth) добавлять, прибавлять (к чему-л.)
   tax n налог
   taxation n налогообложение
   fiscal policy – налоговая, фискальная, бюджетная политика (использование государственных расходов для воздействия на экономику государства в целом)
 
   Аудиторная работа № 1
   6. Назовите номера предложений, в которых инфинитив является определением, и переведите их на русский язык.
   1. In some rural areas of the USA and Canada it is common practice to be employed on a farm and elsewhere at the same time.
   2. When each unit of capital input costs £320 per week and each unit of labour input costs £300 per week, the cheapest way to produce 100 units of output is to use labour-intensive technology (трудоемкая технология).
   3. The value of the total output to be produced in the public sector and the private sector will make up the gross national product.
   4. We know the quantity of capital inputs to affect the total output.
   5. Competing suppliers may maintain their prices at a low level to attract customers from a higher-price firm.
   6. Imports may be raw materials for domestic production or the goods to be consumed directly by households, such as a Japanese television set or a bottle of French wine.
 
   7. Переведите на русский язык предложения со словом there.
   1. There may be a number of ways to solve the problem of scarce information resources.
   2. There exists considerable unemployment in some economies while a lot of vacancies (вакансия, незанятое рабочее место) cannot be filled.
   3. In the 1980s, there continued a rise in the GNP per person in all groups of countries.
   4. Since government intervention in agriculture has grown, there have occurred considerable changes in grain markets both of the USA and Europe.
   5. There is a large amount of economic activity that cannot be measured, such as household services and the underground economy.
   6. There exists close (тесная) relationship between minimum wages and standard of living.
   7. If there is a subsidy for housing, there may be an incentive for the landowner to transfer land from farming to housing.
   8. There is unequal (неравный) income distribution within each country as well as between (different) countries.
 
   8. Найдите среди английских словосочетаний эквиваленты следующих русских словосочетаний:
   амортизация фондов, обложение собственности налогом, экономика в целом, отечественное производство, существующие фонды, средняя заработная плата, средняя семья, крупная собственность, собственность за рубежом
 
   existing assets, fiscal policy, to replace assets, taxation of assets abroad, property taxation, depreciation measure, depreciation of assets, circular flow of payments, average household, household spending, taxes imposed on households, home production, property abroad, economy as a whole, average wage, domestic production rather than production abroad, household property, domestic production, considerable property
 
   9. Выберите подходящее по смыслу слово из предлагаемых в скобках вариантов.
   1. The (measure / way) in which the European Union's statistical system is adapting to requirements of the 21st century is of importance both inside and outside the European Union.
   2. The marginal product of labour is how much each extra worker (adds to /makes up) total output.
   3. In a dynamic political society old statistic systems have to be (replaced / determined) by new ones.
   4. If a person can do what he wishes with his own (property / output), time, and energy, then economists say that he is economically free.
   5. The price of a good in a market is (determined / measured) by the law of demand and supply
   6. (Gross/aggregate) demand is the total amount of (spending/ depreciation) on (final / domestic) goods and services.
   7. You and your family have an annual (годовой) income which allows you to consume various goods and services, live in a particular neighbourhood (район) and maintain a certain (standard of living/fiscal policy).
 
   Задание на дом № 2
   10. Переведите предложения на русский язык, обращая внимание на использование инфинитива.
   1. Stabilization policy is government actions to control the level of output in order to keep the GNP close to its full-employment level.
   2. Although money is a helpful tool to measure output, there may arise certain difficulties.
   3. A: ting through their governments, societies can decide how much they want to take measures to change the distribution of income.
   4. Economists consider capital to be the property owned by an individual or corporation at a given time.
   5. Governments regulate the level of aggregate demand in order to maintain full employment and stimulate economic growth.
   6. As taxes affect levels of prices for various groups of goods, they influence the way to allocate resources in the economy.
   7. To calculate depreciation is necessary in order to know the value of the assets of an enterprise.
 
   11. Вставьте в тексты (а) и (б) указанные ниже предлоги и союзы, где это необходимо:
   in, to, of, while, by, who, which, on, since, through, where, however, for
   а) Household is a group of people… make economic decisions together. In economic theory households have two roles: they enter the market as buyers or consumers… goods and services produced… firms and they provide… factor inputs… firms… order to produce those goods and services. The term «household» is used… national income analysis, supply and demand analysis it is replaced… the term «consumer»,
   б) Black economy is nonmarket economic activity… is not included… the national income accounts, either because such activity does not pass… the market or because it is illegal. Illegal economic activity may exist in the usual price system… is determined… demand and supply. Examples may be the purchase and sale of illegal drags… the street, or alcohol… the US prohibition era… the 1920s.
   …, some nonmarket activity is carried out… non-profit-making purposes. For example, a housewife provides services… her family. Other nonmarket activity is done… a barter basis, for example…. a mechanic selves a motor car of an electrician… in return helps the mechanic install light fittings (установить осветительную аппаратуру)… the house…. there has been no money paid, the activity does not add… the G DP and so does not exist for statistics.
   в) Напишите пять вопросов к тексту (б).
   г) Кратко передайте содержание текста (б).
 
   12. Измените следующие предложения, используя формы страдательного залога.
   1. Final goods absorb the value of intermediate components and services.
   2. The GDP does not include the value of imported goods and services.
   3. We won't rely upon the statistics provided by the agency.
   4. Chemists and engineers are looking for alternative automobile fuels.
   5. The natural resources examination data have made up the basis for a nationwide environment conservation project.
   6. The government has distributed support among producers.
   7. The government has to provide tax relief for smaller producers.
   8. The US administration applies its farming support policies flexibly.
 
   Аудиторная работа № 2
   13. а) Ответьте на вопросы к тексту Circular Flow of Payments and National Income.
   1. What process is known as the circular flow of payments?
   2. What is the gross domestic product?
   3. What is the gross national product?
   4. What does the GNP indicate?
   5. How is national income determined?
   6. What is aggregate demand?
   7. How do government activities affect the aggregate demand?
   8. What is fiscal policy?
   б) Подумайте и скажите:
   1. Can the average standard of living reflect the actual way in which people of all social groups live?
   2. How can government spending stimulate the development of a particular industry?
 
   14. Заполните пропуски следующими словами и выражениями из словарного минимума к тексту Circular Flow of Payments and National Income в соответствующей форме:
   household, while (2), to determine, to add to, asset, to make up (2), property, as a whole, since, spending, distribution
   1. A worker receives his wages… the owner of the enterprise receives the profit from the whole business.
   2. In comparing (сравнивать) national incomes it is not important which members of the population own these… and earn this income; in analyzing the… of incomes within a country it becomes important.
   3… macroeconomic problems characterize the economy, they are more spoken about on television and in newspapers… microeconomic problems are of interest to a limited number of economists.
   4. Labour should not be employed when additional employment… more… costs than revenue.
   5. Individual income of wages and… earnings such as dividends, rent, etc.
   6. The demand for labour by firms depends on its productivity which…… by the available technology and capital.
   7. The aggregate demand of demand in the following three sectors of the economy: imt government, and business.
   8. To reduce the budget deficit by £1 billion it is necessary to cut government… by 1 billion.
 
   15. Вместо подчеркнутых определительных придаточных предложений используйте инфинитив.
   ОБРАЗЕЦ: Measures that the government will take will not be popular. – > Measures to be taken by the government will not be popular.
   1. This is the best method that we can use in order to compare the productivity of capital in different industries.
   2. Engineers have developed a soya-based car fuel which is to replace petrol one day.
   3. Intermediate goods are the goods that will be used as inputs in production of other goods.
   4. Intermediate products are the goods and services that are not to be counted as part of the gross national product.
   5. Final goods are the goods that will be consumed by end-users.
   6. The purpose of a demand analysis which will have to be done is to determine which products the company can sell and at what price.
   7. The labour supply is a measure which can be offered at given wages at a certain time.
   8. Labour supply is determined by the number of workers who will be available for commercial production and the average number of hours that can be worked by available workers.
 
   16. Составьте предложения из двух подходящих по смыслу частей.
   1. Taxes have a great effect on the way
   2. Economists consider the value of total output of the public sector as well as the private sector
   3. The GDP is the basic measure
   4. In most countries higher living standards of the typical man rather than
   5. Import is a good which is produced abroad
   6. One person's spending must be
   7. Individual incomes come either from working or from property
   8. When industries were first nationalized in Britain, many of them after the Second World War, the governments' aim was
 
   a. their international image are of prime importance.
   b. someone else's income.
   c. to provide conditions under which nationalized industries could not be run directly by ministers, but through boards of directors with a considerable measure of managerial independence.
   d. society allocates its scarce resources.
   e. which earns rent, dividends, and interest.
   f. to make up the gross national product.
   g. and which is then transported to and sold in the home market.
   h. of the total output of goods and services in the economy.
 
   Задание на дом № 3
   17. Переведите предложения на русский язык.
   1. The aggregate price level is a measure of the average level of prices of goods and services in the economy, relative to their prices at some particular date in the past.
   2. The amount of information to be used in measuring the GNP is enormous, and there are always errors in collecting and adding up numbers. So, aggregate data – the data that represent the whole economy – can never be fully accurate and complete.
   3. Material goods and services make up only a part of a person's welfare. Besides, there should be available such costless rights as freedom of speech and others.
   4. In the 1980s British workers in the gas and electricity industries earned £20 a week more than the national average wage and earned considerably more than workers in the textile industry.
   5. The primary sector together with the industrial sector and the service sector form a chain of economic activities which make up a whole economy
   6. They believe there are considerable advantages to be obtained from increasing the size of the enterprise.
   7. Due to taxes, part of the income of households to be spent on consumer goods and services is reduced.
 
   18. Переведите предложения на английский язык.
   1. Совокупное предложение зависит от рынков товаров и труда.
   2. Следует знать средний темп увеличения зарплаты в год.
   3. После покупки предприятия в прошлом месяце новый владелец не стал заменять всю управленческую команду немедленно.
   4. Увеличение государственных расходов и заимствований (borrowing) оказывает некоторое воздействие на процентные ставки (interest rates), которые будут предложены банками.
   5. Модель кругооборота дохода показывает, как, в денежном выражении, семьи покупают товары и услуги у фирм, используя доход, полученный от поставки фирмам факторов производства.
   6. Средние прямые правительственные выплаты американским фирмам в субсидируемых отраслях колеблются в зависимости от размера фирмы.
   7. Хотя власти США наложили некоторые ограничения на импорт зерна из Европейского Союза, нет никаких доказательств, что это в значительной степени сократило экспорт из ЕС.
 
   19. а) Вставьте пропущенные предлоги, частицы и союзы, где это необходимо.
   Economic growth is usually measured… terms… an increase… the real GNP or GDP over time or an increase… income… head over time. The latter measure relates (соотносить) increases… total output to changes… the population. If total output rises faster than the increase… population, there will be an improvement… average standards… living.
   The importance… economic growth is… its contribution… the general wealth… society… a whole. Growth is desirable… it lets the society… consume more private and public goods and services (health and education), improving… real standards… living. However, rapid economic growth can also contribute… using… natural resources and adds… environmental pollution.
   б) Ответьте на вопросы:
   What are the ways of measuring economic growth?
   What are the advantages and disadvantages of rapid economic growth?
 
   Аудиторная работа № 3
   20. Составьте предложения со словом there, употребив глагол в соответствующей временной форме.
   ОБРАЗЕЦ: (There/not to he) a radical reduction in government spending this year. – > There has not been a radical reduction in government spending this year.
   (There/to be) an increase in demand for imports when domestic income and output rise.
   Normally, (there /not to exist) such a situation when all labour supplied by households is employed.
   (There/to be) considerable changes in the occupational (профессиональный) distribution of the labour force recently.
   Over the last 100 years (there/to be) a fall in the average workweek for men, while for women (there / to be) a rise in workweek and hours per week.
   (There /may /to be) various types of assets, among them such physical assets as plant, equipment, land, consumer durables and financial assets.
   (There/should/to be) inaccuracy in measuring per capita GNP levels in many less developed countries since a large number of transactions are not recorded.
   If total output rises only a little faster than the increase in population, then (there / to take place) only a small rise in per head income.
   If (there/to be) growth in an economy, (there/to be provided) more both private and public goods such as education, health, etc.
 
   21. Раскройте скобки и употребите глаголы в соответствующей форме.
   Gross national product is the value of all goods and services (to produce) in the economy in a given period such as a year.
   The value added (to be) the difference between the value of a firm's output and the cost of the inputs (to buy in) to produce that output. The value added (to be) the value that a firm (to add) to its (to buy in) materials and services through its own production and marketing efforts. The sum of all the value added in various sections of the economy such as manufacturing, agriculture, etc. (to know) as the GDP.
   Businesses (to produce) goods and services (to use) factor inputs (to supply) to them by households.
   The gross national product (to determine) for a particular geographic area, usually a country, but possibly a region or a city, or a group of countries such as the European Union. It (to measure) for a time period, usually a year or a quarter.
   An asset (to be) property (to own) by an individual or a business which (to have) money value.
   While individual labour supply (to measure) in hours, aggregate supply (to measure) in man-hours, the total amount of hours (to supply) by all workers.
 
   22. Прочитайте текст и найдите три случая употребления конструкции «сложное дополнение». Ответьте на вопросы, следующие за текстом.
   Exports and Imports as Part of Circular Flow
   In an open economy, that is, an economy having contacts with other countries, exports provide demand for domestic goods and we consider them to be an injection (вливание) to national economy. Aid we consider imports to be a leakage (утечка) from the circular flow since they provide a demand for goods produced abroad.
   What determines the desired (желательный) levels of exports and imports?
   Demand for exports is determined by conditions in foreign economies and some economists do not believe exports to depend on domestic income. However, there exists a relationship between exports and domestic aggregate demand. An increase in export demand will result in a rise in the aggregate demand.
   Imports from other countries may be raw materials for domestic production or goods for direct consumption by households, such as a Japanese television set or a bottle of French wine. We expect demand for imports to rise when domestic income and output rise.
   In terms of national income measuring, total leakages from the circular flow must always equal (равняться) total injections to the circular flow. The equilibrium condition for an open economy is as follows:
   S + T + Im = In + G + E (total leakages) (total injections)
   Desired savings (накопления) plus taxes plus desired imports must equal desired investment plus desired government spending plus desired exports.
   How are imports and exports connected with circular flow of payments in an economy?
   What is the main requirement to injections to and leakages from national economy for it to remain balanced?
   What are injections to and leakages from the circular flow made up of!
 
   23. Просмотрите тексты на с. 96 и 106 и скажите:
   Are both of them about open economies or is one of them about a closed economy, that is, an economy analyzed without its contacts with foreign countries? What makes you think so?

Unit 8
Taxes and Public Spending

   Грамматика и лексика:
   1. Конструкция «сложное подлежащее» при сказуемом: в форме страдательного залога
   2. Значения слова result и сочетаний с ним
   3. Значения слова most
   4. Значения слов that и those
 
   Задание на дом № 1
   1. В разделе «Грамматика и словообразование» проработайте § 20 и 28.
 
   2. Переведите следующие предложения на русский язык, обращая внимание на конструкцию «сложное подлежащее».
   The budget deficit is known to be the excess of government expenditure over government revenue.
   Markets are said to bring together buyers and sellers of goods and services.
   The massive influx (зд, включение) of women into the labour force is sometimes assumed to result in unemployment.
   Alcohol and tobacco are usually believed to be products with a very inelastic demand.
   An increase in the wage rate is expected to reduce the quantity of labour demanded.
   A subsidy is known to be money or other resources provided by the government to support a business activity or a person.
   
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