Задания по теме "Economics and English"

Part 1

Read the texts below and fill in the gaps choosing the correct word from the list on the right.

1	Growth in Latin America and the Caribbean (LAC) has slowed, but a tentative pick-up to 1.8 percent is expected in 2020. External factors remain a headwind to economic 1 in the region, led by 2   global growth, subdued commodity prices, and 3 capital flows, although easier global financial conditions provide some respite. Policy uncertainty in somelarge LACcountriescontinues to be a drag on growth. Against this 4 the LAC economies will need to rely on domestic sources of growth to 5 the recovery, which depends on apickupinprivate 6 and investment.	a.       volatile b.      consumption c.       backdrop d.      sluggish e.       prospects f.        accelerate
2	Risks to the outlook remain 1 to the downside, including further falls in global growth, heightened 2 policy uncertainty, contagion from the financial 3 in Argentina. Given the 4 global environment and still negative output gaps in the region, policies will need to 5 a balance between supporting growth and rebuilding policy space. Fiscal 6    to lower public debt remains a priority in several countries. Monetary policy can continue to support growth given the stable inflation outlook and 7_ expectations.	a.       well-anchored b.      challenging c.       tilted d.      consolidation e.       strike f.        turmoil g.      domestic
3	Austria has achieved high living standards with relatively low inequality and poverty. Growth 1 but employment creation has been good and unemployment lower than the EU average. The fiscal balance moved into 2 and public debt is declining. The external current 3 balance is in surplus. Looking ahead, growth will moderate and there are significant 4 risks, including weaker growth in European partners, possible trade disruptions. In the event of a 5       the authorities should allow automatic 6 to act and be prepared to use stimulus measures if needed.	a.       downturn b.      eased c.       surplus d.      stabilizers e.       downside f.        account
4	The increasing globalization of the world market has created a need for managers who have global 1      skills, that is, the ability to operate in 2     cultural environments. With more and more companies choosing to do business in multiple locations around the world, employees are often 3 to learn the geography, language, and social customs of other cultures. It is expensive to train employees for overseas 4 and pay their relocation costs; therefore, 5 the right person for the job is especially important. Individuals who are open minded, flexible, willing to try new things, and comfortable in a multicultural 6 are good candidates for international management positions.	a.       setting b.      diverse c.       choosing d.      required e.       assignments f.        management
5	To further improve the resilience of the global financial system, the financial 1 reform agenda should be completed, and a rollback of reforms should be 2     To adequately address potential 3     risks, financial regulation and supervision should be used more proactively. Broad-based 4       tools should be used more actively in countries where 5 are high.	a.       avoided b.      vulnerabilities c.       regulatory d.      systemic e.       macroprudential

In the extract below about the ways to achieve economic growth, put the paragraphs (A, B, C, D, E) in the correct logical order (1-5).

What аre the Ways Economic Growth Can Be Achieved?

A	Other factors help promote growth, consumer and business spending and prosperity. Banks, for example, lend money to companies and consumers. As businesses have access to credit, they might finance a new production facility, buy a new fleet of trucks, or start a new product line or service. The spending and business investments, in turn, have positive effects on the companies involved. However, the growth also extends to those doing business with the companies, including in the above example, the bank employees and the truck manufacturer.
B	Not only tax cuts but also infrastructure can be used to spur economic growth. Infrastructure spending occurs when a local, state, or federal government spends money to build or repair the physical structures and facilities needed for commerce and society as a whole to thrive. Infrastructure includes roads, bridges, ports, and sewer systems. Economists who favor infrastructure spending as an economic catalyst argue that having top-notch infrastructure increases productivity by enabling businesses to operate as efficiently as possible. For example, when roads and bridges are abundant and in working order, trucks spend less time sitting in traffic, and they don't have to take circuitous routes to traverse waterways.
C	It is known that economic growth is measured by an increase in GDP, which is defined as the combined value of all goods and services produced within a country in a year. Many forces contribute to economic growth. However, there is no single factor that consistently spurs the perfect or ideal amount of growth needed for an economy. Unfortunately, recessions are a fact of life and can be caused by exogenous factors such as geopolitical and geo-financial events. Politicians, world leaders, and economists have widely debated the ideal growth rate and how to achieve it. It's important to study how an economy grows, meaning what or who are the participants that make an economy move forward.
D	In addition to the above mentioned factors promoting prosperity, tax cuts and tax rebates are designed to put more money back into the pockets of consumers. Ideally, these consumers spend a portion of that money at various businesses, which increases the businesses' revenues, cash flows, and profits. Having more cash means companies have the resources to procure capital, improve technology, grow, and expand. All of these actions increase productivity, which facilitates economic growth. Tax cuts and rebates, proponents argue, allow consumers to stimulate the economy themselves by imbuing it with more money.
E	Let's begin the analysis with the United States, where economic growth is driven by consumer spending and business investment. If consumers are buying homes, home builders, contractors, and construction workers will experience economic growth. Businesses also drive the economy when they hire workers, raise wages, and invest in growing their business. A company that buys a new manufacturing plant or invests in new technologies creates jobs, which leads to growth in the economy.

Questions 1-5

Read the article below about the examples of common fringe benefits. From the list of headings (A - F) choose the correct heading for sections 1 - 5. Use each letter only once.

A. Paying for dependent care	D. Tuition reimbursement
B.    Broad range of employers’ contributions	E. Monthly bonus to employees
C.    Powerful tools in employees’ long-term savings	F. Options of insurance coverage

What Are The Examples of Common Fringe Benefits?

1	The majority of employers in the private and public sectors offer their employees a variety of benefits in addition to their salaries. These on-the-job perks, typically referred to as fringe benefits, are viewed as compensation by an employer but are generally not included in an employee's taxable income. A wide range of fringe benefits exists, and what is offered varies from one employer to another. The most common benefits include life, disability, and health insurance bundles; tuition reimbursement or education assistance; fitness center access or discounts; employee meals and cafeteria plans; dependent сare assistance; and retirement plan contributions.
2	The most common fringe benefits offered to employees include combinations of insurance coverage. Typically, employers offer up to $ 50,000 of group term life insurance, short- and long-term disability coverage, and health insurance options. Employers commonly share the cost of premiums with employees in an effort to offset the total cost to the employee.
3	Another common fringe benefit is education assistance or tuition reimbursement for college courses or the completion of an advanced degree program. Employers offering education assistance may allow employees to work flexible schedules so they can balance their education and work obligations. Employees may also be provided tuition reimbursement for all or part of the expenses.
4	Childcare assistance is another benefit offered by some employers, as working full-time with children can present scheduling conflicts and prohibitive daycare costs. Some larger employers offer employees dependent care on-site, either at a discount or for no cost. Smaller companies may provide a monthly bonus to employees for the specific purpose of paying for dependent care.
5	One of the most important fringe benefits an employer can offer is contributions to an employee's retirement plan. Some companies offer matches on employee paycheck delay while others make qualified contributions to retirement plans without requiring employees to make contributions themselves. These plans can be powerful tools in saving for the long-term and provide compensation to employees above and beyond their salaries.