VIII. Translate from Russian into English. VI. Match the words with their definitions

VI. Match the words with their definitions

V. Suggest the Russian equivalents for the words and words -combinations given below

IV. Answer the following questions

1.What does foreign trade mean?

2. What are imports and exports?

3. How can you explain the principle of comparative advantage?

4. What kindsof tariffs do you know?

5. What is dumping called?

6. What is known as "exchange rate"?

National boundaries, to obtain goods, comparable advantage, as long as, to erect artificial barriers, quotas, protective tariffs, domestic industry, domestic counterpart, the free flow of trade, to appreciate, takeplace, given period, trends, other consequences, foreign.

1) оpportunity costs	а) restrictions on the number of goods that can enter the country from abroad
2)quotas	b) tariff levied to protect a domestic industry from foreign competition
3)revenue tariff	c) selling the same goods for a lower price abroad than at home
4)protective tariff	d) the amount of goods and services that must be given up in the order to obtain other goods and services
5)subsidy	e) excess of revenues over expenditures
6)surplus	f) tax on imports designed to raise money for the government
7)dumping	g) financial aid

VII. Fill in the gaps with the words and expressions from the previous task.

1.Like individuals and business firms, government also pays....

2. American farmers were accused of... subsidized products in
foreign markets.

3. Sugar is one of the crops that have been protected by import....

4. Until 1910, the United States looked to the... as its principal
source of income.

5. When the anticipated income equals anticipated expenses, the
budget is said to be a....

6. Without... American manufacturers might not have been able to
compete with the more efficient factories of Western Europe.

7. There is an international disagreement over trade....

1. Развитие рыночной экономики – важный фактор успешной торговли с зарубежными странами.

2. Каждая страна может выбрать командный или рыночный тип экономики.

3. Любой человек время от времени принимает экономические решения.

4. Некоторые экономические вопросы все еще остаются предметом споров.

5. Если общество производит больше какого-то товара, оно должно производить меньше других товаров.

6. Никто из экономистов не доказал, что экономика может существовать без вмешательства государства.

7. Адам Смит и Томас Джефферсон жили в 18 веке. Они оба пытались описать экономические системы своего времени.

8. Даже свободная рыночная экономика на может существовать без каких-либо планов.

9. Экономическая теория ничего не оставляет без внимания.

10. Все, что нужно обществу, производится в ограниченных количествах.

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