Вопрос № 1029309 - Английский язык

Read the text and do the tasks
1. The central bank is the monopoly supplier of base money. At the same time, the central bank can, via imposing minimum reserve requirements, exert a (pre-dominant) influence on the demand for central bank money. That said, the central bank is in a (comfortable) position to manage the conditions in the market for central bank money (usually referred to as money market), that is determining the quantity of base money or the interest rate on base money balances.
2. Figure 1.25 shows a simple model of the inter-bank money market (for, say, 1-month money), where the interest rate is determined by the demand for and supply of base money. The demand is determined by minimum reserves, the cash drain and working balances. Supply is determined by the central bank’s regular operations and by autonomous factors (such as, for instance, deposits being shifted from central bank to commercial bank accounts and vice versa).
3. In their money market operations central banks aim to ensure an orderly functioning of the money market, helping credit institutions to meet their liquidity needs in a smooth manner. This is typically achieved by providing regular refinancing to banks and facilities that allow them to deal with end-of-day balances and to cushion transitory liquidity fluctuations. What is more, central banks tend to signal their monetary policy stance to the money market via changing the conditions under which the central bank is willing to enter into transactions with commercial banks.
(Ansgar Belke : Monetary economics in globalised financial markets / A. Belke, T. Polleit. – Springer, 2009. – P.325).
Define the statements which correspond to the contents of the text.

Прочитайте текст и заполните пропуски подходящими по смыслу словами.
The 1_______ of the central bank are many and of a varied character. Firstly, in relation to the large number of commercial banks, it acts as a banker. It accepts 2_______ from, and extends loans to the banks in the country. The central bank is, therefore, rightly called bankers’ bank. Secondly, the 3_______ bank is the lender of the last resort, i.e., in any emergency, if the banks of the country are not in a position to extend credit to the genuine borrowers, the central bank must come to the assistance of the money market and save it from a crisis. Thirdly, the central bank is the 4_______ of the Government. When the Government needs loans for its current requirement for short periods, the central bank is obliged to extend credit to the Government.

Read the text and do the tasks
1. In most countries, price stability has become the primary objective of monetary policy. Central bankers, economists, and other knowledgeable observers around the world agree that price stability both contributes importantly to the economy’s growth and employment prospects in the longer term and moderates the variability of output and employment in the short to medium term.
2. Price stability is considered as a situation in which the economy’s price level does neither increase nor decrease over time; that said, price stability is a situation in which inflation (that is an ongoing increase in the economy’s price level) and deflation (that is a ongoing decline in the economy’s price level) are actually absent, or, to put it differently: price stability is a situation in which the purchasing power of money remains unchanged over time.
3. The idea of preserving the value of money by stabilising the economy’s price level – which is actually typically represented by a consumer price index – is based on the work of Irving Fisher (1867–1947) between 1895 and 1922, in particular on Fisher’s The Making of Index Numbers from 1922. Fisher was one of the first experts on the calculation of price index numbers, and he began the first weekly newspaper publication of a wholesale price index in 1923. Before that, the value of the currency was fixed against a certain amount of gold. In fact, Fisher’s «index regime» has become the «state-of-the-art» concept in monetary policy.
(Ansgar Belke : Monetary economics in globalised financial markets / A. Belke, T. Polleit. – Springer, 2009. – P.531).
Choose the correct summary of the text.

Read the text and do the tasks
1. Heterodox economists also criticize the textbooks’ treatment of international trade for de-emphasizing the geopolitical context of free trade rhetoric. Trade patterns and other international economic relations have always been deeply influenced by geopolitical factors, exemplified by colonialism, persistent threats of military or covert interventions over economic issues, and the use of foreign aid as a lever for structuring trade relations. This continues today.
2. The deposit of Saudi oil revenues in U.S. banks and the Saudis’ moderation of OPEC price increases, for example, reflect geopolitical forces (such as our military help in maintaining the Saudi regime) as much as market forces. One of the hidden pressures for NAFTA similarly involved U.S. government efforts to gain privileged access for U.S. firms and financial interests to Mexican oil. The latter has been insulated from foreign ownership by Mexican law.
3. The recent push for a neoliberal version of «free trade» (which, for example, often strives to protect intellectual property rights much more vigorously than labor rights) is as laden with nationalist geopolitical agendas as past global trading orders. It is also just as laden with the objectives of private corporations and economic interests in the host nations pushing different policies.
(Steven Mark Cohn : Reintroducing macroeconomics (a critical approach). – M.E. Sharp. Inc., 2007. – P. 208).
Choose the correct summary of the text.

Reply to the question in accordance with the situation.
Professor 1: «Could you explain how this method facilitated your work».
Professor 2: «_____________».

Reply to the question in accordance with the situation.
Professor: «Could you explain the commission the purpose of your survey».
Postgraduate: «___________».