USEFUL TERMS AND EXPRESSIONS. Exercise № 7

· capture – охватывать, отражать

· standard of living / living standard – уровень жизни

· to be well off – быть обеспеченным, состоятельным

· to be better off / worse off – быть богаче / беднее; быть в лучшем/худшем положении

· well- being – благосостояние

· wealth – богатство, благосостояние, материальные блага

· to take account of - учитывать

· to quantify – производить количественную оценку

· capital goods – товары производственного назначения, средства производства

· depreciation – амортизация, износ, снижение стоимости

· government services - государственные услуги

· a gap – расхождение, разрыв, несоответствие

· joblessness – безработица

syn. unemployment

· the unemployed –безработные (субстантивированное прилагательное)

· sustainable – 1) стабильный, сбалансированный 2) допустимый, приемлемый

· to make an assumption – допустить, предположить

· exhaustible resources – исчерпаемые природные ресурсы

· to mitigate – уменьшить, ослабить, умерить

· turmoil – неразбериха, хаос, кризис

 

 

Exercise № 7

Choose the correct answer.

1.  The GDP per capita is designed to measure

· the quality of life

· the value of goods and services produced by the population of this country

· the total output of a country divided by the total number of people

· the amount of money that is being earned per person in a country

 

2.  The author considers GDP per head to be an inaccurate measure of quality of life in a country because

· it takes no account of depreciation of capital goods

· it only captures material wealth but excludes some phenomena which have an increasing impact on the well-being of citizens

· it is based on market prices

· it is normally revised after a certain period of time

 

3. It can be inferred that had there been more awareness of the limitations of standard metrics, like GDP,

· the financial crises and recession could have been avoided

· bankers and borrowers would have felt worse-off

· there would have been less euphoria over economic performance in the years prior to the crisis

· the policymakers would have taken early measure to moderate the melt-down

 

4. The key message of the report is that the time is ripe

· to dismiss GDP and production measures

· to shift emphasis from measuring economic production to measuring people’s well-being in the context of sustainability

· to focus on material living standards that are more closely associated with measures of real household income and consumption

· to ensure that statisticians are independent of governments

 

Exercise №8

Suggest the Russian for the following word combinations.

to mitigate the recession; sustainable economic activity; to examine well-being of future generations; to cut joblessness; to make assumptions; real GDP per person; to gauge personal income; government services; to take account of depreciation of capital goods; consumer demand; on average; at market exchange rate.

 

Exercise № 9

Give English equivalents to the following word combinations.

доход домашних хозяйств; ВВП на душу населения; уровень безработицы; курс обмена валют; паритет покупательной способности валют; экономический спад; оценить уровень благосостояния; приобрести товары производственного назначения; стабильный рост благосостояния; повышать уровень жизни; скорректировать показатель с учетом инфляции; произвести количественную оценку уровня благосостояния; учитывать запросы потребителей.

READING AND SPEAKING III

Read the article and make a list of economic indicators suggested by The Economist readers.

Search the Internet for some other alternative indicators of economic health.

Visit http://moneyland.time.com/category/economics-policy/the-economy/

http://www.mentalfloss.com/blogs/archives/109050

http://www.businessinsider.com/alternative-economic-indicators-2012-5 for alternative ways to look at the economy

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