Английский разговорный язык. Практическое пособие по развитию устной речи - страница 33

traditionally – традиционно

trustworthy – надежный

unfold – раскрыть(ся)

wealth – богатство, состояние, благосостояние

to a great extent – в значительной степени

rate of depreciation – степень обесценивания, норма амортизации

two-fold – двусторонняя

random walk – подчиняющееся случайности движение (наименование теории ценообразования на фондовом рынке)

permanent income – постоянный доход

current income – текущий доход

tax cuts – сокращение налогов

in accord with – в соответствии с

Exercise 10

Answer the questions:

1. What assumption is the theory of rational expectations based on?

2. What does the value of a currency depend on, according to this theory?

3. What do the prices of shares depend on, in the context of this theory?

4. What is the relation between expectations and outcomes?

5. What does the rational expectation theory provide a trustworthy basis for?

6. What is people's consumption positively related to, in the traditional economics?

7. What is people's consumption related to, in the rational expectations theory context?

8. What did the traditional economics think about temporary tax cuts in relation to their effect on consumption?

9. What sort of income are people relating their consumption decisions to?

10. What is permanent income?

Question: How many people does it take to make the economy work?

Answer: Only one, and it's me.

Proof:

The population of the United States is 180 million, but there are 64 million over 60 years of age, leaving 116 million to do the work.

People under 21 total 59 million which leaves 57 million people to do the work.

Because of the 31 million government employees, there are only 26 million left to do the work.

Six million in the armed forces leave twenty million workers.

Deduct 17 million State, county, and city employees, and we are left with three million to do the work.

There are 2,500,000 people in hospitals, asylums, and treatment facilities leaving half a million workers.

However, 450,000 of these are bums or others who will not work, leaving 50,000 to do the work.

Now, it may interest you to know that there are 49,998 people in jail so that leaves just 2 people to do all the work, and that is you and me, and I'm getting tired of doing everything myself!