10. Read the following fax and write an answer to it in a form of a letter.

To: Hotel Date 5 September

Subject: Hotel Information

Dear Sir or Madam,

I would be grateful if you could send me some information about your hotel facilities. Could you also let me know the price for a single room with a bath for four nights at the beginning of November?

I look forward to hearing from you.

Yours faithfully

John Black

John Black

UNIT 6

1. Read the text and translate it into Russian paying attention to the vocabulary notes.

Inflation

Inflation is generally defined as a persistent rise in the general price level with no corresponding rise in output, which leads to a corresponding fall in the purchasing power of money.

In this section we shall look briefly at the problems that inflation causes for business and consider whether there are any potential benefits for an enterprise from an inflationary period.

Inflation varies considerably in its extent and severity. Hence, the consequences for the business community differ according to circumstances. Mild inflation of a few per cent each year may pose few difficulties for business. However, hyperinflation, which entails enormously high rates of inflation, can create almost insurmountable problems for the government, business, consumers and workers. In post-war Hungary, the cost of living was published each day and workers were paid daily so as to avoid the value of their earnings falling. Businesses would have experienced great difficulty in costing and pricing their production while the incentive for people to save would have been removed.

Economists argue at length about the causes of, and "cures" for, inflation. They would, however, recognize that two general types of inflation exist:

• demand-pull inflation;

• cost-push inflation.

Demand-pull Inflation.

Demand-pull inflation occurs when demand for a nation's goods and services outstrips that nation's ability to supply these goods and services. This causes prices to rise generally as a means of limiting demand to the available supply.

An alternative way that we can look at this type of inflation is to say that it occurs when injections exceed withdrawals and the economy is already stretched (i.e. little available labour or factory space) and there is little scope to increase further its level of activity.

Cost-push Inflation.

Alternatively, inflation can be of the cost-push variety. Tills takes place when firms face increasing costs. This could be caused by an increase in wages owing to trade union militancy, the rising costs of imported raw materials and components or companies pushing up prices in order to improve their profit margins.

Vocabulary notes

a persistent rise	неуклонный, постоянный подъем
rise in output	подъем производства
potential benefits	потенциальные выгоды
mild inflation	мягкая, низкая инфляция
entails enormously high rates of inflation	означает (ведет к) громадный рост инфляции
insurmountable	неисчислимые, колоссальные
demand-pull inflation	инфляция, вызванная превышением спроса над предложением, инфляция спроса
cost-push inflation	инфляция издержек
to outstrip	обгонять, опережать, превосходить
little available labour	мало рабочей силы
to improve their profit margins	увеличить размеры прибыли

2. Answer the questions to the text.

1. Give the definition of inflation. What can you add to it?

2. What is the extent and severity of inflation?

3. What is demand-pull inflation? Name countries with this type of inflation.

4. What is cost-push inflation? Name countries with this type of inflation.

3. Suggest the Russian equivalents for the following word-combinations and make up sentences with them.

Inflation varies considerably in its extent and severity; mild inflation; rate of inflation; insurmountable problems: demand-pull (cost-push) inflation; the economy is already stretched.

4. Find in the text English equivalents/or the following.

Повышение (падение) спроса (покупательной способности) и т.д.; гиперинфляция; запросы опережают возможности экономики предложить товары и услуги; воинственность профсоюзов; уровень прибыли.

5. Replace the parts in italics by synonyms.

A persistent rise; hence; may pose few difficulties; which entails enormously high rates; at length; inflation occurs when; little scope to increase its level of activity; firms face increasing costs; owing to trade union militancy.

6. Translate into English using all the active possible.

Следует отличать инфляцию спроса от инфляции, обусловленной ростом издержек. Суть инфляции спроса иногда объясняют одной фразой: «Слишком много денег охотятся за слишком малым количеством товаров». Теория инфляции, обусловленной ростом издержек, объясняет рост цен такими факторами, которые приводят к увеличению издержек на единицу продукции.

7. Discuss with your partner different types of inflation. Do you think that inflation can sometimes be beneficial for the economy?

8. Fill in the gaps in the memorandum.

Sales Manager/ From / C.M. /To / Subject

(1) _______: Secretarial Supervisor

(2) _______: Claire McElroy

(3)________: Demonstration on new office equipment

The (4) _____ of Smart Equipment will visit us on 28 April to demonstrate their new computer and fax-machine which you are sure to be interested in.

Please arrange the time to meet him so that all your staff could be present.

(5) ________

9. You are the human recourses manager of a company and you have decided to change some working practices. You want to hold a meeting with the staff. Write a memo (40-50 words) to the staff:

• telling them the reason for the meeting;

• saying who should attend;

• informing them when and where the meeting will be held.

UNIT 7

1. Read the text and translate it into Russian paying attention to the vocabulary notes.