Определение денег

Ни среди экономистов, ни среди государственных должностных лиц не существует единого мнения о том, из каких отдельных элементов состоит денежное предложение (money supply) в экономике. В узком смысле предложение денег, обозначаемое М1, состоит из двух элементов:

1) наличность, то есть металлические и бумажные деньги, находящиеся в обращении;

2) чековые вклады, то есть вклады в коммерческих банках, различных сберкассах или сберегательных учреждениях, на которые могут быть выписаны чеки.

Металлические и бумажные деньги являются обязательствами (commitments) государства и государственных агентств. Текущие счета представляют обязательства коммерческих банков и сберегательных учреждений.

Задание 4. Прочтите и переведите предложения. Заполните пропуски следующими словами.

Raised, effectiveness, power, monetary, interest, strengthen, control, poor, device, succeeds, usefulness, in practice.

1. Decisions on monetary… can be reached and applied rapidly, since … is concentrated in the Board of Governors.

2. The effectiveness of monetary action is reasonably certain. Interest rates can always be … to a level at which the brakes take hold.

3. Monetary policy is an impersonal…, which produces its effect through the market mechanism. It is neutral as among individuals and groups in the economy. If the Federal Reserve… in restricting credit, some would-be borrows will be left unsatisfied.

4. The … of monetary policy depends on whether the problem is to tackle inflation or unemployment. … policy is more effective on the former front than on the latter.

5. During a recession the Federal Reserve can … bank reserves, reduce … rates, and establish an attractive atmosphere for borrowing. But it cannot directly affect the wish to borrow. As business prospects seem …, borrows will hold off and the desired increase in loans and spending will not materialize.

6. The … of monetary policy should not be overestimated. Monetary policy … is more complicated and less effective than appears from textbook examples.

Задание 5. Задайте вопросы к выделенным словам:

1. We might marvel at the progress in every field of study.

2. It is common knowledge that they often do the exact opposite.

3. It is hard to work under extreme pressure.

4. Your whole future depends on the exams.

5. No one can give of his best when he is in moral terror.

6. The child enters a world of competition.

7. The student should read widely.

8. The exams lower the standards for they deprive the teacher of all freedom.

9. There must surely be many effective ways.

10. It is cynical to suggest that exams are merely a profitable business.

Задание 6. Выберите соответствующий модальный глагол из предложенных в скобках:

1. He has been training to drive for a month. Now he (can, may) drive well.

2. He doesn’t feel well now. So he (can’t, may not) play the second game.

3. I saw him in the garden ten minutes ago. He (can, may) be still there.

4. The drivers (may, must) be very careful on the road.

5. The weather is hot. We (might, must) go to bathe.

6. Where will you go on holiday? I am not quite sure but we (may, can) go to Spain.

7. I bet you (can, must) get at least two hundred pounds for the painting.

8. I need to talk to you and I’m afraid it (may not, can’t) wait.

9. (Can, might) you take the risk that you (can, might) lose your money)?

10. We (may, must) encourage fathers to take full responsibility for their children.