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Which of the following topics does the article discuss?1) the boom-bust economy; 2) political extremism; 3) the money markets; 4) social inequality; 5) retraining the unemployed; 6) corporate fraud; 7) the black economy; 8) government cover-ups.
What are your personal reaction to the article? I totally agree that … . I think the point about … is probably true. I don’t agree with the point about … at all. I already knew … , but I didn’t realise … . I’m not sure I can believe … . What shocks me most is … .
76. Find the words and expressions in the article which mean: 1) no one has any idea; 2) a period when the economy is weak; 3) a period when the economy is strong; 4) sudden and complete economic failure; 5) is exchanged; 6) made things worse; 7) large amounts of money you get unexpectedly; 8) rising rapidly; 9) to be made stricter; 10) the arrival a large number of people; 11) never having happened before; 12) it’s not surprising.
Without referring to the text, complete the following notes on the article using the pairs of words in the boxes.
1. In the past … and … used to even themselves out. 2. We now swing from … to soaring … . 3. Poorly managed financial … caused the … of the Japanese economy. 4. The dotcom … was motivated by short-term … . 5. The currency … are where the real … is made. 6. The … in the number of mergers and … has compounded the problem. 7. Shareholders made huge … but thousands of … were laid off. 8. Many companies now hide … to finance … .
1. The real … is the widening … between rich and poor. 2. Seventy per cent of the world’s … has to survive on just ten per cent of its … . 3. The greatest … to the world economy is a new … of seriously poor. 4. … is running high and wages have fallen behind … . 5. Immigration … have been tightened to prevent an … of workers from the East. 6. In the USA many have low-paid, dead-end … and live below the … -line. 7. Companies now have more … than countries and comprise fifty per cent of the world’s richest … . 8. It is easier to be economical with the … than truthful about the … .
What do you think about Russia’s economy? Is it strong or not? Would you say it was about to enter a period of growth or decline? 80. Complete these words by adding the vowels. Each word can follow the adjective economic.
81. Now complete the following using some of the word partners above: 1. Economic …, such as the rate of inflation and the level of unemployment, are the signs that economists look for to help them produce their economic … . 2. Economic … is what a country faces if it builds up too great a national debt. 3. The prospects for a country’s economic future might be called its economic … . 4. During a period of economic … the government is forced to take strong economic … to revitalize the economy. 5. Despite all the talk of political and economic …, Europe seems more divided than ever.
Here are some of the most common expressions you will need when reading or listening to business news. Whenever you learn a new expression, try to learn its opposite as well. Choose verbs from the boxes which are the opposite of those on the left.
In each example, use another form of the word in capitals to complete the sentence. ECONOMICS 1. She’s a leading … . 2. You can call it being … with the truth, if you like. I call it lying! 3. We need to think of practical ways in which we can … .
POLITICS 4. Politics is too serious a matter to be left to the … . 5. The whole thing is … motivated. 6. They’ve … the issue by involving the government.
84. Using the statistics below, complete these sentences describing a country’s economic situation:
1. Since 1985 GDP … . 2. Between 1985 and 1995 GDP more than … . 3. But for the last … years GDP … . 4. Over the next 3 years GDP … . 5. There’s been a 2% rise … . 6. Inflation is expected … . 7. Compared with 1985, the 1995 inflation figure … . 8. Unemployment has been .. . 9. The most dramatic rise in unemployment … . 10. Over the next 3 years unemployment … . 11. Compared with … years ago, the unemployment situation … . 12. In terms of population, the overall trend … . 13. In spite of a fall of 2m … . 14. The rise in population is expected … . 15. Overall, the country is in a worse economic … situation than … . 16. The outlook for the next … . You may choose the answers from this box.
Divide into two groups. The first group are the experts of the British economy, the second group are experts of the Russian one. Draw up a profile of your country. What are their economic and political prospects? Discuss the perspectives of both countries. Prove your ideas.
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