2017-11-01
811
Macroeconomics
1. Macroeconomics focuses on trying to understand events that affect the whole economy. A widespread decline in economic activity, when it lasts for more than six months, is called a recession. Since recessions are felt throughout the economy, it seems unlikely that the explanation for a recession will be found in the microeconomics of individual markets. The causes of recession must involve forces that have widespread influence on economic activity. Nor are these events confined to just one economy; recent U.S. recessions have put a damper on economic activity around the globe – a symptom of globalization.
2. What causes recessions? Should the government do something about it? If so, what can it do? What forces bring a recession to an end, allowing resumption of normal levels of sales, employment and production?
3. Another example of a problem in macroeconomics is inflation-a pervasive and persistent rise in prices. Since inflation reflects price changes that are widespread across many different industries it seems clear that the explanation for inflation must lie with factors affecting the entire economy. Recession and inflation are central problems in macroeconomics.
4. The division of economics between microeconomics and macroeconomics is not a precise one. For example, the computer industry is of growing importance to the economy, but the study of the economics of that industry belongs in the domain of microeconomics. On the other hand, although banking is also an industry, the study of banking is usually considered part of macroeconomics.
VIII. Answer the questions:
1. What is a recession?
2. What is inflation?
3. Is the division of economics between microeconomics and macroeconomics a precise one?
Variant IX
I. Complete the sentences (1- 9) with the words (a-i):
A) population b) wealth c) membership d) recessions e) certificate
F) accommodation g) stockholders h) directors i) identity.
1. There's a shortage of cheap………..
2. A public company must have at least two ……..…
3. The ……...… elect a director or directors to operate the corporation.
4. The highest density of ………… is in the cities.
5. …….… can include money in bank accounts or in pension schemes.
6. Most governments aim to avoid ………….
7. Australia has its own cultural………...
8. He lost his ………. in the shuffle of papers.
9. She holds ……….in a number of regional organizations.
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II. Match (1-9) with (a-i) to make up sentences:
| 1.In the past 100 years, economic growth has been a major factor 2. Consumer nondurable goods are purchased 3. All over the world, the rich continue to get richer 4. Environmental degradation can have a huge impact 5.The demand for some goods increases, 6. As incomes rise, people increase 7. In general, the greater the population, 8. A change in the price of a good or service causes a change in the quantity demanded. 9. Some companies become monopolies through vertical integration. | a) on poverty rates and the well-being of people. b) through vertical integration. c) for immediate or almost immediate consumption. d) in reducing the levels of poverty. e) while the demand for others decreases. f) the greater the demand. g) their consumption of many goods and services. h) a change in the quantity demanded. i) and the poor continue to get poorer. |
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