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  1. Write a short information on current economic events in Russia. Term I

Variant III

  1. The Economy. Match what people are saying (1 - 13) about the economy with what the experts say (a-m):

  1. Things seem to be getting a bit better at last-better then last year at any rate.

  1. The service sector is getting bigger.

  1. At least prices aren’t going up as quickly as they used to.

  1. The cost of living is high.

  1. But things are still far too expensive.

  1. Unemployment is high.

  1. The problem nowadays is that no one can get a job.

  1. People are worried about the future of the Welfare State.

  1. The only new factories round here belong to foreigners.

  1. There are signs that the recession is coming to an end that economic recovery is on the way.

  1. The government just won’t put any money into business.

  1. Public investment is weak.

  1. And even if you do manage to get a job, it’s not in a factory.

  1. The public would accept higher taxation in return of improved public services.

  1. It’s more likely to be serving hamburgers in some fast food place.

  1. The manufacturing base is getting smaller.

  1. And either way, the union can’t do anything for you.

  1. The rate of inflation is going down.

  1. No one’s got the qualifications for the jobs you see advertised in the papers.

  1. Inward investment is stable.

  1. I reckon we’ve got less in the bank then we had a couple of years ago.

  1. There is a serious skills shortage.

  1. And now they say we’re going to have to start paying to go into hospital.

  1. Organized labour is weak.

  1. I wouldn’t mind a bit more taken off my pay if I thought it would mean a bit more for schools and hospitals.

  1. Personal savings are low.

  1. Replace the underlined words by synonyms

    • obsolete products;

    • it can ensure that;

    • it can be inefficient;

    • there is no incentive for individuals to work hard in planned economics;

    • it led to many nations abandoning planned economies over recent years.

  1. These pairs of words often cause problems. Choose the correct alternative for each:

  1. TAKE OVER/OVERTAKE

    1. They want to ___ our company but I don’t think their offer is high enough for our shareholders to sell.

    2. They expect to ___ all their main competitors, in terms of sales, within a year of the launch of their new product.

  1. BASIS/BASIC

    1. He only speaks ___ English: it’s sometimes difficult to understand what he is trying to say.

    2. Well, I think we have a good ___ for discussion after lunch.

  2. RAISING/RISING

    1. Prices are ___ at a rate of about 4% per year.

    2. The company is ___ its prices by 5% this year.