Екатерина Малежик, Т18-1в

Homework 16.09

Topical Vocabulary:

 Consumer spending
 Free movement of capital
 Growth and constraints
 Life expectancy
 Open borders
 Standard of living
 Environmental damage
 Goods and services
 Interest rates
 Cheap credit
 Social mobility
 Underlying strength
 To drive the economy
 Deregulation
 Differentials
 Subsidies
 Constrained
 Tariffs
 Quotas
 Literacy
 Liquidity
 Slump

Summary of the text

What drives the world economy? There are several factors that provide a reasonable answer.
First, growth in GDP is one of the primary indicators used to gauge the health of a country’s
economy. Second, there are two poles of government policy: liberalization, which is associated
with free markets, and protectionism, which is associated with government intervention. Third,
the main factors affecting consumer confidence are level of unemployment, because if people’s
job are at risk they will spend less. Moreover, interest rates are set by Central Banks, and the
liquidity leads to bubbles in stock markets and housing markets. Additionally, exchange rates are
caused by many complex factors such as the underlying strength of the economy, interest rate
differentials and speculation. Finally, economies go through cycles of growth and contraction.

1) I need a car that's economical and reliable

2) I contributed $20 towards Andrea's present
3) Better health care was at the core of the senator's campaign
4) The local people showed me great hospitality
5) We thanked our hosts for a very enjoyable evening
6) Norway's primary aim is to reunite these children with their care givers in their home
country
7) It's part of a drive to cut government expenditure
8) I am afraid your plan is not commercially/economically/financially/politically viable
9) Please specify the dimensions (= the height, length and width) of the room
10) At the time she was under the influence of her father
 11) Tourism operators depend on the scenic and recreational "infrastructure" provided by
natural landscapes
12) Destination manager is responsible for the reception and comprehensive service of
tourists
13) The company has suffered from several years of bad management
14) The new mayor is reaching out to inner city communities to involve them in his plans for
the city
15) Due to liquidity and appetite in the high-yield markets, the company’s developers have
been able to raise capital more easily
16) There is a trade-off between doing the job accurately and doing it quickly

Derivatives, synonyms and antonyms

1) Economic activity, economist

2) To contribute to – ant. To withhold
3) Core capital
4) Hospitable (adj.)
5) Hostess – hostile
6) –
7) Expenditure tax
8) Viably / ant. Impracticability
9) Dimensioning
10) Impacted – Impactful
11) –
12) –
13) Managed costs – managed economy
14) To reach out to someone
15) Ant. To lose / to lack
16) Ant. Denial - disagreement