Download Business Cycles

Business Cycles
Задание к тексту
Business cycles can be described as periods of boom, contraction,
recession and expansion.
Boom. At the peak of the business cycle the economy is booming.
Business is producing at or near capacity, and those looking for work can
generally find jobs. During peak times, business investment and
consumer spending are at very high levels. But because the economy is at
or near full employment and the demand for goods and services is
increasing, prices are also increasing. This sets the stage for the next
phase of the business cycle.
Contraction. For any number of reasons, consumers and businesses
begin to reduce their spending levels. Businesses may lay off workers,
reduce their purchases of raw materials and reduce production because
they have built up excess inventories. Some businesses may decide to
continue to use old factories and equipment rather than investing in new
machines and buildings. Whatever the reason, reductions in business and
consumer spending mark the beginning of a contraction in the business
cycle. With the reduction in spending, other business firms begin to cut
back their activities. Their production is reduced and more workers are
laid off. Because of the layoffs, workers, who are also consumers, spend
less. This leads to still more reductions in production and additional
worker layoffs.
Recession. With factories operating at less than capacity and
unemployment at very high levels, total output of goods and services
enters a long-term decline. This is the bottom phase of the business cycle,
the period of recession. Times are hard during recessions.
Unemployment is very high, jobs are difficult to find and many
businesses fail. A very severe and long-lasting recession is called a
«depression».
Expansion. After a period of recession the economy eventually begins
to recover, entering the expansion phase of the business cycle. During a
period of expansion, business and consumer spending begins to increase.
Sensing that conditions are about to improve, business begins to expand
its activities. Unemployment declines as additional workers are hired.
This, in turn, leads to higher levels of consumer spending and still further
expansion of employment, output and consumption.
1. Найдите в тексте и дайте перевод следующим выражениям:
business cycles
at or near capacity
to look for work
during peak times
business investment
at or near full
employment
the demand for goods and
services
to set a stage
for any number of reasons
to reduce spending levels
to lag off workers
to mark the beginning
to cut back activities
to lay off
to lead to reduction
to enter a long term
decline
a bottom phase
long-lasting recession
2. Переведите на английский язык используя лексику текста:
В 2008 году в мире разразился экономический кризис. Некоторые
банки США обанкротились. Экономика многих стран вступила в
период упадка. Правительство США во главе с Джорджем Бушем
предприняло ряд мер по поддержке некоторых финансовых
учреждений.
Крах финансовой системы, в свою очередь, произошел и в
Европе. Правительства европейских стран инвестировали
миллиарды евро для поддержки некоторых крупных банков. В
результате период упадка постепенно стал сменяться периодом
подъема.
3. Прокомментируйте текст задания 2 с позиции:
а) официальных СМИ.
б) "желтой прессы"