Vocabulary list:

1. toconsume — потреблять

2. internalmarket — внутренний рынок

3. vast — емкий (рынок)

4. GNP — валовой национальный продукт

5. netexports— чистый экспорт

6. tooverestimate- переоценить

7. excess— превышение

8. value— стоимость

9. domesticspending — внутренние расходы

10. labor— рабочая сила

11. mobility— мобильность

12. substitute— заменитель

Notes:

1. anapproximateindex — ориентировочный показатель

2. a limited domestic market — узкийвнутреннийрынок

3. exportsaretherouteforobtaininggoods — экспорт выступает способом получения товаров

4. the United States accounts for a diminishing percentage of total world trade — доляСШАвмеждународнойторговлевпроцентномотношенииуменьшается

5. absolute volumes of imports and exports — абсолютныеобъемыимпортаиэкспорта

6. merchandiseexports — доля товарного экспорта

7. similarproductions — аналогичная продукция

8. casualobservation — наблюдение, проводимое время от времени

9. ... reliesheavilyupon — ... в значительной степени зависит от

10. tradepatterns — структура торговли

11. currencyreceipts — валютные поступления

12. multipleeffectsuponthelevelofnationalincome — многостороннее влияние на уровень национального дохода

13. magnifiedrepercussions — серьезные последствия

14. a hostofotherinstitutionalbarriers — множество прочих институциональных барьеров

15. propertyresources — материальные ресурсы

16. a firm... distributing — фирма,... занимающаясясбытом

17. topay... manufacturers — рассчитаться с производителями

Ex 1.Work with a partner and discuss these comprehension questions on Text 1.

1. Why do many nations which have restricted resource bases trade?

2. Up to what value of GN P may imports of the nations which have restrictedresource bases run?

3. In which nations are merchandise exports as a percentage of GNP high?

4. What is the world’s leading nation in terms of absolute volumes of importsand exports?

5. What kinds of high technology similar production do you know? Name the nations which manufacture them.

6. Which goods does Russia export?

7. Which imported goods compete strongly in domestic markets?

8. What is meant by trade patterns?

9. What does the notion “net exports” mean?

10. What effects do changes in net exports have upon the level of national income?

11. What is meant by the notion “the mobility of resources”?

12. What factors limit the migration of real capital over international boundaries?

Ex 2. Find the English equivalents for the following in Text 1.

• государства, имеющие ограниченную ресурсную базу

• товары, необходимые для внутреннего потребления

• емкий внутренний рынок

• рост объемов экспорта и импорта

• с точки зрения абсолютных объемов

• наличие жесткой конкуренции импортных товаров навнутреннемрынке

• международная торговля — улица с двусторонним движением

• часть продукции ... реализуется на международных рынках

• превышение импорта над экспортом

• дисбаланс международной торговли

• изменения величины чистого экспорта

• многостороннее влияние на уровень национального дохода

• колебания различных видов внутренних расходов

• жесткие ограничения на пути миграции рабочей силы

• различия в налоговых законодательствах

• международная мобильность ресурсов

• торговля подвергается политическому вмешательству

Ex 3.Check the comprehension of the text choosing the answer which, you think, is correct.

1. The variety of goods which nations want to consume they can produce independently.

1. Many nations simply cannot produce all goods with reasonable efficiency due to limited domestic markets.

2. Some nations having limited domestic markets produce such goods.

3. Any nation imports all specific goods.

2. The United States accounts for an increasing percentage of total world trade.

1. Yes, it is true as the U.S. is a large country.

2. No, it is not true. In 1947 the U.S. supplied about one-third of the world’s total exports as compared to about one-tenth today.

3. This statement doesn’t seem true. The world trade grows even more rapidly for Germany, Japan and other nations than it does for the United States.

3. Disbalance in the nation’s trade means:

1. Exportsexceedconsiderablyimports.

2. Importsexceedconsiderablyexports.

3. Exportsequalimports.

4. The exports ofgoods are substantially in excess of the imports ofgoods, which is characteristic of any developed country.

1. It is of no significance for any developed nation.

2. It is true as there must not be any disbalance in the international trade.

3. It is true only partially. It is important to know to what nations the main part of export is practised.

5. Net exports is the difference between the value of a nation’s exports and that of its imports.

1. I don’t think so. Net exports is the value of the increase of exports year after year.

2. It can’t be true. Net exports is the sum of the total volume of exports.

3. I’m quite positive about it.

6. A large change in net exports does not influence the financial situation of the nation.

1. One can agree with this statement as having a point.

2. Such changes can have magnified repercussions upon the domestic levels of income, employment, and prices; hence, the financial situation can improve or become worse.

3. The level of national income will probably change, but the financial situation will remain stable.

7. The mobility of resources among nations is considerably higher than it is within nations.

1. On the contrary, the mobility of resources within nations is higher than it is among nations.

2. I suppose, the mobility of resources is a notion which depends upon the Ministry of Foreign Affairs. 1 can’tseeanydifferencehere.

3. The differences in tax laws and governmental regulations put severe restrictions upon the migration of all kinds of resources among nations.