Деньги - Money. Невежина С.Б - 41 стр.

      5. When Brazil owed $123 billion to its creditors in 1991, the            5. Change the sentences using Complex Subject:
biggest debt in the Third World, its government negotiated (вести                Example: It is known that money is accepted as a means of
переговоры) another loan from the Inter-American Development              payment. – Money is known to be accepted as a means of payment.
Bank.                                                                            1. It is known that travellers' cheques, credit cards or even prepaid
      6. Although serving as an actual means of payment, the rouble       telephone cards have been included in money by some economists.
is known to have been replaced by the US dollar as a unit of account in          2. It is believed that gold has for a long time been a convenient
Russia in the 1980s and the 1990s.                                        store of value.
      7. Although swaps are widely made in less developed economies,             3. It is reported that swaps of products and services are
they make economic mechanisms function more inefficiently.                extensively used in underdeveloped countries.
      8. When employed in a temporary job, workers are paid a lower              4. It is known that the forms of capital are distinguished in
wage.                                                                     various ways.
                                                                                 5. It is known that expensive objects of art are used alongside
      4. Translate the sentences with the infinitives:                    money as a store of value.
       1. In some countries, such as post-communist Eastern Europe,              6. It was reported that Russian economy had become wasteful in
foreign currency is known to be used alongside domestic currency.         the 1990s, for goods and services were directly traded for other goods
       2. If properly kept, accounts could have provided valuable         and services without money.
financial information necessary to make decisions about the future of            7. It is reported that OPEC oil price increased from $2.5 per
the company.                                                              barrel in 1973 to nearly $15 per barrel in 1980.
       3. Capital, or property, should be distinguished from income
received from that property during a given period.                              6. Shorten the underlined subordinate clauses:
       4. The US administration is reported to be making efforts to              Example: Although swaps are widely used, they make an
eventually eliminate agricultural subsidies.                              economy more wasteful. – Although widely used, swaps make an
       5. We know the exchange rate ceiling to have been imposed          economy more wasteful.
temporarily by the Central Bank of Russia for the period of reform in            1. When accounts are kept regularly and accurately, they may be
the mid-to-late 1990s.                                                    a convenient tool of making a business more effective.
       6. The exchange of commodities between European countries is              2. Although domestic currency is accepted as a medium of
believed to have become more convenient and rapid due to Euro.            exchange, it is thought to be an inadequate store of value under condi-
Nowadays accounts for international trade are supposed to be kept in      tions of hyperinflation.
Euro rather than in national currencies.                                         3. When average wages are growing rapidly, they add to
       7. The Central Bank must be keeping the exchange rate at a low     production costs considerably.
level, or it would be much higher at present.                                    4. If an increase in average price level is rapid, it results in
       8. Enough essential foods must have been stored by the             inflation.
government to meet the needs of population in case of emergency (в               5. Though labour is regularly supplied by households, it is never
случае крайней необходимости).                                            actually fully used.
                                                                                 6. When money is used as a store of value, it is saved for future
                                                                          consumption.

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