Деньги - Money. Невежина С.Б - 55 стр.

take. Originally, a valuable metal (gold, silver, or copper) served as a        Vocabulary List:
constant store of value, and even today the American dollar is                   value – ценность
technically 'backed' by the store of gold which the US government                transaction – дело, сделка, операция
maintains. Because gold has been universally regarded as a very                  a means of exchange – средство обмена
valuable metal, national currencies were for many years judged in                a store of value – средство сохранения стоимости, средство
terms of the so-called 'gold standard'.                                    сбережения
       Nowadays however valuable metal has generally been replaced               a constant store of value – постоянное накопление стоимости
by paper notes. National currencies are considered to be as strong as            to back (paper money, currency) – поддерживать, обеспечи-
the national economies which support them. Paper notes are issued by       вать (бумажные деньги, валюту)
governments and authorized banks, and are known as 'legal tender'.               store – запас
Other arrangements such as cheques and money orders are not legal                the store of gold – золотой запас
tender. They perform the function of substitute money and are know as            currency – 1. деньги (обычно наличные деньги: монеты,
'instruments of credit.' Credit is offered only when creditors believe     банкноты); 2. валюта
that they have a good chance of obtaining legal tender when they                 national currency – национальная валюта
present such instruments at a bank or other authorized institution. If a         the gold standard – золотой стандарт
man's assets are know to be considerable, then his credit will be good.          to abandon the gold standard – отказаться от золотого стан-
If his assets are in doubt, then it may be difficult for him to obtain     дарта
large sums of credit or even to pay for goods with a cheque.                     issue – выпускать, пускать в обращение
       The value of money is basically its value as a medium of                  to issue paper notes (securities) – выпускать бумажные день-
exchange, or, as economists put it, its 'purchasing power'. This           ги (ценные бумаги)
purchasing power is dependent on supply and demand. The demand                   authorized – официально принятый, разрешенный, санк-
for money is reckonable as the quantity needed to effect business          ционированный
transactions. An increase in business requires an increase in the                authorized banks (institutions) – банки (институты), наде-
amount of money coming into general circulation. But the demand for        ленные определенными правами; уполномоченные банки
money is related not only to the quantity of business but also to the            legal tender (banknotes) – законное платежное средство,
rapidity with which the business is done. The supply of money, on the      официально принятое государством (банкноты)
other hand, is the actual amount in notes and coins available for                cheque – чек
business purposes. If too much money is available, its value decreases,          money order – платежное поручение
and it does not buy as much as it did, say, five years earlier. This             substitute money – представитель платежных средств
condition is know as 'inflation'.                                                instruments of credit – кредитные обязательства (векселя,
                                                                           чеки, облигации)
      Notes:
                                                                                 assets – 1. активы; 2. средства, капитал, фонды
      1. Money has four functions. It serves as a standard of value
                                                                                 the value of money – стоимость денег
(мера стоимости), as a medium of exchange (средство обращения),
                                                                                 a medium of exchange – 1. средство обмена, расчета; 2. сред-
as a store of value (средство сохранения стоимости), and as a
                                                                           ство обращения (как функция денег)
standard of deferred payment (средство погашения долга).
                                                                                 purchasing power – покупательная способность
      2. The US Government abandoned the gold standard in 1971.
                                                                                 to reckon – подсчитывать, исчислять

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