Translate the following sentences into English. 1) В США инвестиции составляют около одной ше­стой части валового национального продукта

1) В США инвестиции составляют около одной ше­стой части валового национального продукта.

2) Инвестиции являются источником колебаний в сфере бизнеса.

3) Озабоченность этими вопросами привела к очень активным дискуссиям в сфере политики налого­обложения.

4) В то же время многие другие, неконтролиру­емые факторы продолжают оказывать влияние на инвестиции.

5) Слово «инвестиция» может обозначать многие виды экономической активности.

6) Экономисты обычно используют этот термин для обозначения покупки товаров длительного пользования.

7) Частные инвестиции обычно подразделяются на три широкие категории.

8) Оборудование составляет сейчас около трёх чет­вертей инвестиций в бизнес.

9) Инвестиции помогают увеличить производитель­ность путём увеличения объёма капитала на одного рабочего.

10) Инвестиционные решения для своего внедрения часто требуют долгого времени.

III Translate the following dialogues from Russian into English:

Test Paper №1.

Variant 9.

I Read the following text and translate it in writing:

MONEY

Money supply in most countries comprises curren­cy — bills and coins issued by the Central Bank and/or the Treasury — and various kinds of deposits held by the public at commercial banks and other depository in­stitutions such as savings and loans and credit unions. In the USA, for example, on June 30, 1990, the mon­ey supply, measured as the sum of currency and check­ing account deposits, totalled $809 billion. Including some types of savings deposits, the money supply to­talled $3,272 billion. An even broader measure totaled $4,066 billion.

The definition of money has varied. For centuries physical commodities, most commonly silver or gold, served as money. Later, when paper money and check­able deposits were introduced, they were convertible in­to commodity money. The abandonment of convertibility of money into a commodity made paper money the main financial instrument around the world. To regulate the national economy and influence the world trade national monetary authorities have the power to issue paper mon­ey without legal constraints.

Because money is used in all economic transac­tions, it has a powerful effect on economic activ­ity. An increase in the supply of money puts more money in the hands of consumers, making them feel wealthier, thus stimulating increased spending. Busi­ness firms respond to increased sales by ordering more raw materials and increasing production. The spread of business activity increases the demand for labour and raises the demand for capital goods. In a boom­ing economy, stock market prices rise and firms issue equity and debt. If the money supply continues to ex­pand, prices begin to rise, especially if output growth reaches capacity limits. As the public begins to expect inflation, lenders insist on higher interest rates to off­set an expected decline in purchasing power over the life of their loans.

Opposite effects occur when the supply of money falls, or when its rate of growth declines. Economic ac­tivity declines and either disinflation (reduced inflation) or deflation (falling prices) results.

The most important determinant of the money supply is the Central Bank.

II Do the following tasks to the text given up: