Exercise 3. Match the following components as they occur in the text. Translate them into Ukrainian.

THE ECONOMY OF THE UNITED STATES OF AMERICA

Text A

The US economy is immense. In total, the annual value of all goods and services produced in the United States, known as the gross domestic product (GDP), was estimated to be nearly $14.7 trillion in 2010, approximately a quarter of nominal global GDP. Though the 2008-2010 financial crisis has had wide-ranging and long-term consequences¹for the world and US economies, the U.S. economy maintains a very high level of output per capita. In 2010, it was estimated to have a per capita GDP of $46,844, the 7th highest in the world. The country remains the world's largest manufacturer, representing a fifth of the global manufacturing output. Over 80 percent of the goods and services purchased by US consumers each year are made in the United States, the rest is imported from other nations. The United States is home to 139 of the world's 500 largest companies, which is almost twice that of any other country. The United States has a mixed economy that has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment. It is a dynamic, free-market system that is constantly developing the choices and decisions made by millions of citizens who play multiple roles as consumers, producers, investors and voters. It is individual producers and consumers who determine the kinds of goods and services produced and the prices of those products. But though a great majority of productive resources are privately owned, the federal government does play an important part in the national economy. It provides services and goods that the market cannot provide effectively, such as national defense, public goods and services²,assistance programs for low-income families, and interstate highways and airports. The government also provides incentives to encourage the production and consumption of certain types of products, and discourage the

production and consumption of others, establishes guidelines regulating environmental protection.

TheUnited States is the largest trading nation in the world, exporting and importing more goods and services than any other country. The international trade and the policies that encourage or restrict the growth of imports and exports have a wide-ranging effect on the US economy. It increases the total level of production and consumption in the world, lowers the cost of production and prices, that consumers pay, and increases the living standard. The total value of US imports and exports has amounted to 25 percent of the country's GDP. The US economy produces many different goods and services. We can see it more easily dividing economic activities into four sectors that produce different kinds of goods and services. The first sector provides goods that come directly from natural resources: agriculture, forestry, fishing, and mining. The second sector includes manufacturing and the generation of electricity. The third sector, made up of commerce and services, is now the largest part of the US economy. It comprises financial services, wholesaling and retailing, government services, transportation, entertainment3,tourism, and other businesses that provide a wide variety of services to individuals and businesses. The fourth major economic sector deals with recording, processing, and transmission4of information, and includes the communication industry5.

Exercise 2. Translatethe following words and word combinations intoUkrainian using the text

To exceed___________________________________________________________

purchased by US consumers
unemployment rate________

individual producers and consumers_______

a limited role in making economic decisions
the national economy___________________

to provide public goods and servic

the largest trading nation___________

made up of commerce and services
transportation___________________

Exercise 3. Match the following components as they occur in the text. Translate them into Ukrainian.

Date: 2015-12-24; view: 762