Вопрос № 1072661 - Английский язык

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A cashier’s check is a check written for you by your bank. You give the bank the money (or it is taken from your account) and the 1_______ writes a cashier’s check, charting a small 2_______ for the service. Usually cashier’s checks are written for large amounts to transfer money from one place to another.
A cashier’s check is easier to 3_______ than a personal check, and it is safer than carrying a large amount of cash. You do not have to cash a cashier’s check at a 4_______ of your bank – it can be cashed at any bank or business.

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Like any business, a bank is interested in profit, above all. Money is the commodity it 1_______. To put it simply, a bank seeks to “buy” money cheaply (not necessarily from the Federal Reserve Bank), at an annual six-percent interest, for example, and to sell it dearly (as, say, credit to a building company) at an annual 2_______ rate of 11 per cent. This is what the banks are busy doing. There are many variations within this pattern, of course.
Naturally, the banks put their money where it brings them the highest profit. That is why they always keep up to date with the market situation. By shifting 3_______ of various “costs” from sphere to sphere, from one geographical region to another, the banks activities stimulate 4_______ in industry, construction and agriculture. Besides this, the bank promotes the growth – or causes the demise – of individual population centres or even whole regions.

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Did you ever have conversation with older adults that went something like: “When I was you age money could buy a lot more than it can these days …”
I guess that’s why they say “the good old days”.
In fact, the dollar was worth more “back in the good old days”, and 1_______ were a lot lower than they are today.
Economists use the terms purchasing power, or value, to describe the quantity and quality of goods and services we can buy with our 2_______. When prices increase, our money cannot buy as much. Its purchasing power declines. When prices fall, the opposite occurs. Or, to put it another way, when prices 3_______, the value of money falls; when prices fall, its value rises.
An extended period of rising prices is called inflation. One in which prices are falling is called deflation. The value of the dollar decreases during periods of inflation, and increases during 4_______ of deflation.
The purchasing power of the dollar has been shrinking during most of our century.

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A situation in which there is “too much money chasing too few goods” is often described as demand-pull inflation. When demand increases faster than industry’s ability to satisfy that demand, prices will increase. During the Vietnam War, for example, government spending for military goods served to increase the purchasing power of many Americans since it was not accompanied by a tax increase. Meanwhile, factories that might have been producing consumer goods turned to the production of goods for use in the war. The result was an increase in the demand for goods and services at the very time that industry’s ability to satisfy that demand was being redirected. Since it was not possible to increase output to satisfy demand, prices rose.
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When do prices increase?

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A period of rising prices due to an increase in the cost of production is called cost-push inflation. When, for example, labour unions win wage increases greater than the workers’ increases in productivity, management may choose to raise prices to maintain profits. With prices going up, other unions and workers might demand wage increases to keep up with the increased cost of living, and so on, and so on, in an inflationary spiral. Similarly, efforts by producers to increase profits by increasing prices rather than by reducing costs could also trigger an inflationary spiral.
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What happens when labour unions win wages increases?

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During periods of inflation the cost of living increases. Therefore it is necessary to earn more just to maintain your present living standard. How much of an increase is necessary? If the cost of living increased by 10 percent in 1991, a person with a $20,000-a-year income in 1990 would have to earn $22,000 ($20,000 + 10 percent) in 1991 just to stay even. Certain groups, such as those living on fixed retirement pensions, cannot increase their incomes enough to offset the effects of inflation. When this happens their standard of living will decline. To protect people on fixed incomes, Social Security benefits are adjusted for the effects of inflation.
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What happens during periods of inflation?