WorksheetsEconomics year 3
Total questions: 40
Worksheet time: 40mins
Statistical data would be included in the последующий report.
subsequent ['sʌbsɪkwənt]
appalling
previous
At that time all state institutions were in беспорядке and the country was in economic ruin.
dissaray [ˌdɪs(ə)'reɪ]
lieu [ljuː]
penuary ['penjərɪ ]
The предпосылка для the creation of the mixed economy was connected with the history of Britain
premise of
premise for
premise on
Penuary and high inflation were the предпосылки для the creation of the mixed economy.
prerequisites for
prerequisites of
prerequisites in
Wise management is a key to искоренение poverty
extirpating ['ekstɜːpeɪt]
facilitating
precipitating [prɪ'sɪpɪteɪt]
Mean-spirited businessmen запасали profits and избегали new technologies.
hoarded, eschewed [ɪs'ʧuː ]
hoarded, extirpated ['ekstɜːpeɪt]
hoarded, unleashed
...is the policy which is based on the idea that governments and the law should not interfere with business, finance
fiscal policy
laissez-faire policy [ˌleɪseɪ'feə]
monetary policy
...means that part of the economy is left to the free market and part of it is managed by the government
planned economy
market economy
mixed economy
C. Attlee introduced 'mixed economy' with strong government involvement because
he wanted to be supported by the USSR socialists
the country was devastated and entrepreneurs coudn't mobilize the investment
he wanted to call the shots on Britain
After WW2 the British government started the process of .... in order to mobilize recourses and share new technologies within the estableshed 'public corporations'
nationalization
privatization
mobilization
... is a system whereby the state protects the health and well-being of its citizens, especially those in financial or social need, by means of grants, pensions, and other benefits.
well-being state
social state
welfare state
The welfare state was introduced in the William Beveridge Report in 1942 in order to
to make the report a best-seller
establish National Health Service, pension system
be presented in the London School of Economics
in 1990s the signal that European socia systems have gone wrong was...
high unemployment
increased life expectancy
lack of competitiveness
in 1980s the Netherland started to reduce budget deficit, cut taxes and make it easier to hire and fire people in order to cure the...
'Danish disease'
'Dutch disease'
'Fango disease'
Rising unemploymet signals a challenge to the entire система взглядов of welfare, social spendings, protection in the labour market
edifice ['edɪfɪs]
benchmark
realm [relm]
The public does not always understand that there is a problem, a затруднительное положение
hindrance
obstacle
predicament
In 1990s European countries decided to create a single currency area. In need to reduce deficits they started the process of...
privatization, by selling leaders of inductries
nationalization, by uniting small companies into publuc corporations
In order to reach economic convergency (unity) some ... were stated in the Maastricht treaty: levels of inflation, amount of national debt, stability of nationa currency.
benchmark criteria
parameters
3 Giants
As a result of introducing benchmark criteria ... Europe emerged: some countries could meet the requirements and some couldn't.
two-tier [tu 'tɪə]
bilateral [baɪ'læt(ə)r(ə)l]
two-sided
Many state-owned companies, former modernizers and champions, became inefficient and were препятствовали technological innovations
hindering
intervening
eschewing
Most Asian countries turned from .... into technologically advanced countries.
mixed economies
plantation economies
rubber economies
The Winning formular of Asian countries was defined by the government руководить, promoting competition and protecting domestic markets
keeping tab
catching up
calling the shots
Strategy used by the Asian countries when local goods are made to be competitive on the international market and be sold abroad
export-push strategy
import-substitution strategy
Chiang Kai-shek left economic policy making to the ... - adept officials , many of them were scientists and engineers
supertechnocrats
techno nerds
number crunchers
Asian countries got a name- ... - meaning new integrated regional economy, which started from Japanese investment into other Asian countries and their further growth and trade with one another
Asia Ltd
Asia Inc
Asia&Co
The fact of developing Asian countries moving up in technological development by following the pattern of the developed Asian countries is called...
Asian tiger pattern
flying-geese pattern
fire-dragon pattern
Why strong currency (as it was in the UK in 2000) can be a disadvantage?
because country's export can be priced out abroad
because imported goods cost more
because less tourists will come to the country
... is a company which is part of a larger and more important company (e.g. a holding company)
subsidiary
supplementary company
secondary company
the value of goods and services produced within a country's borders
GNP
GDP
the value of goods and services produced by a country's citizens domestically and abroad.
GNP
GDP
During a boom period there's a pickup in demand for средства производства as businesses invest in extra capacity to meet strong demand and to make higher profits
capital goods
intermediate goods
demerit goods
промежуточный товар - is a good or service used in the eventual production of a final good or finished product.
intermediate good
capital good
demerit good
...is paid directly by an individual or organization usually to the government. It can be a personal property tax, income tax, or taxes on assets.
direct tax
exise tax
value-added tax
...is imposed/ levied by the government on the producer/retailer, but finally it is paid by the consumer. Examples are excise tax, value-added tax.
direct tax
indirect tax
income tax
a decrease in an asset's value (machinery, equipment, currency) because of getting worn out or because of unfavourable market conditions.
amortization
depreciation
devaluation
... is the amount of money an employee gets after paying income taxes
gross wages
net wages
real wages
...is the amount of money adjusted for inflation and paid to an employee
real wages
nominal wages
net wages
type of economy which requires only the buyer and seller, idle resources and an online platform. (is also characterised by p2p transactions)
p2p economy
sharing economy
digital economy
type of governmental policy which includes the regulation of spendings and taxes
fiscal policy
monetary policy
laissez-faire policy
type of policy used by the Central bank to increase or decrease the interest rate
fiscal policy
monetary policy
laissez-faire policy
