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Vocabulary work

a) Complete the following notes on the article.

THE DEATH OF ECONOMICS

1. The world economy is..........apart.

2. No one has a..........what's going wrong.

3. Supply and demand always used to..........themselves out.

4. We now swing from hyperinflation to soaring...........

5. Government economic..........are more unreliable than ever.

THE WORLD ECONOMY

1. The US is unable to..........its trade gap with Japan.

2. Japan and Germany are sliding deeper into.

3. The former Communist countries are on the verge of economic

UNEMPLOYMENT

1. Unemployment poses the greatest..........to the world economy.

2. Western companies are exploiting cheap.......... in the East.

3. In the USA and Japan people are employed at well below the minimum.

4. The consequences are far-...........

ECONOMIC GROWTH

1. Contrary to popular opinion, economic growth is not the

2. Economic growth amongst the world's richest nations has been..........since the 60 s.

3. Current government figures point to an economic............but they can't be trusted.

b) Complete these words by adding the vowels. Each word can follow the adjective economic:

1. g r _ w t h 2. _nd_c_t_rs 3. с r_ s _ s

4. f_r_c_st 5. f_r c_ s 6. t h_ _г у

7. P-l-cy 8. _ _tl_ _k 9. r_c_ss_ _n

10. m__s_r_s 11. d_v_l_pm_nt 12. r__n

13. r_f_rm 14. s t r_ t _ g у 15. r_c_v_ry

16. _ n_ _n 17. s_nct__ns 18._ _d

c) Now complete the following sentences using the words from the previous excercise:

1. Economic..........such as the rate of inflation and the level of unemployment, are the signs that economists look for to help them produce their economic...........

2. Economic..........is what a country faces if it builds up too great a national debt.

3. The prospects for a country's economic future might be called its economic.

4. During a period of economic..........the government is forced to take strong economic..........to revitalize the economy.

5. Despite all the talk of political and economic..........Europe seems more divided than ever.

d) Here are some or the most common expressions yon need when reading or listening to business news. Try to learn their opposites as well. Choose verbs from the boxes which are the opposite of those on the left.

close impede scrap cut improve relax break off come out of harm privatize

1. nationalize

INDUSTRY

2. increase

SOCIAL BENEFITS

3. go into

RECESSION

4. damage

INTERNATIONAL RELATIONS

5. tighten

IMMIGRATION CONTROLS

6. set up

AN INVESTMENT PROGRAMME

7. widen

THE TRADE GAP

8. enter into

NEGOTIATIONS / TALKS

9. promote

OUR IMAGE ABROAD

10. bring about

ECONOMIC RECOVERY

help adopt put off divide pushup neglect launch reduce payoff resist

11. raise

TAXATION

12. unite

PUBLIC OPINION

13. bring down

UNEMPLOYMENT

14. hit

THE UNEMPLOYED

15. give in

PRESSURE

16. attract

FOREIGN INVESTORS

17. come under

AN ATTACK

18. accumulate

DEBTS

19. abandon

A POLICY

20. invest in

EDUCATION

e) Now complete the following newspaper headlines using words from the previous exercise. The abbreviations marked * are explained below.

1. Britain set to come out of........... before rest of Europe, promises Chancellor.

2. Widening..........must be closed, says DTI *.

3. Unions furious as Employment Minister cuts...........for out-of-work .

4. Montreal relaxes.......for French-speakers.

5. Third World investment programme...........

6. Europe sinks deeper into

7. Football hooligans can only harm ............warns Home Secretary.

8. Washington resists...........to intervene in North Korea.

9. British Euro-Skeptics will put off............warn CBI *.

10. MEPs * come under...........in Brussels corruption scandal.

11. Socialists prioritize bringing down.......

12............united on Northern Ireland.

*DTI = Department of Trade and Industry

* CBI = Confederation of British Industry

*МЕР = Member in the European Parliament