VI. Define which of the following items best completes
Date: 2015-10-07; view: 475.
Column A Column B
| 1. money | a. The exchange of one good or service for another. |
| 2. currency | b. Anything generally accepted as payment for goods and services. |
| 3. barter | c. A book of forms for writing cheques. |
| 4. inflation | d. The total amount of money that exists in the economy of a country at a particular time. |
| 5. check | e. Period of rising prices during which the purchasing power of the dollar is falling. |
| 6. money supply | f. An institution, such as a bank, that deals in short-term loans, foreign exchange, etc. |
| 7. money market | g. Paper money and coins issued by the federal government. |
| 8. checkbook | h. Metallic forms of money. |
| 9. coin | i. A special printed form on which one writes an order to a bank to pay a sum of money from one's account. |
the statement:
1. Most of the money in circulation consists of
a. paper money.
b. coins.
c. checking accounts.
d. savings accounts.
2. In a money economy, money serves as a
a. medium of exchange.
b. measure of value.
c. store of value.
d. all of the above.
3. The value of money
a. can increase or decrease.
b. remains the same at all times.
c. increases with the passage of time.
d. rises when prices rise.
4. The purchasing power of money
a. increases during periods of inflation.
b. decreases during an inflation.
c. decreases during a deflation.
d. is unaffected by inflation or deflation.
VII. Complete the following sentences:
1. Money can be any substance that functions as ... . 2. As a medium of exchange, money is ... . 3. As a measure of value, money expresses ... .
4. It also serves as ... . 5. This means ... . 6. The most familiar forms of money are ... . 7. The term coin refers ... . 8. The term currency refers ... .
9. Modern money is very portable when ... . 10. Metallic coins last a long time under normal use ... . 11. The penny which is the smallest denomination of coin, is ... . 12. The fact, that the money supply often grew at a rate 10—12 per cent a year was considered as ... .
VIII. Answer the following questions:
1. In what function is money accepted as payment for goods and services? 2. What is money as a medium of exchange? 3. What does money express as a measure of value? 4. How does money function as a store of value? 5. What are the most familiar forms of money in the United States?
6. What is the difference between coin and currency? 7. What does the term currency refer to? 8. What are the most important characteristics of modern money? 9. What is the life-time of metallic coins? 10. How is the smallest denomination of coin called in the United States? 11. What is the major cause of inflation?
IX. Translate into English:
1. Гроші функціонують як засіб обігу, міра вартості та запас вартості. 2. Різні види грошей перебувають в обігу в Сполучених Штатах Америки. 3. Запас вартості означає, що товари та послуги можна легко конвертувати в гроші. 4. Термін «валюта» відноситься до паперових грошей, а «монета» ¾ до грошей, виготовлених з металу. 5. Сучасні гроші мають ті самі характеристики, що й примітивні гроші. 6. Металеві гроші не виходять з обігу аж доти, доки їх не загублять. 7. Пенні — монета найменшої вартості в обігу. 8. Те, що грошова маса щороку зростає на 10—12 відсотків, є основною причиною інфляції.
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