ЎЗБЕКИСТОН РЕСПУБЛИКАСИ
ОЛИЙ ВА ЎРТА МАХСУС ТАЪЛИМ ВАЗИРЛИГИ
ТОШКЕНТ МОЛИЯ ИНСТИТУТИ
Хорижий тил
Фанидан
МУСТАҚИЛ ТАЪЛИМ
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Тошкент – 2022
SELF-STUDY 2
TASK 2.1 Reading
Give the definitions of phrases in the box. Complete the text about dealing with the business cycle with these phrases.
What can central bankers and government _______ policy makers __do? Can they prevent a contraction from turning into a recession? What tools are available to them? The following three are the most important:
Interest rate adjustments
The strongest and fastest tool in a weakening economy is the Central Banks' ability to cut interest rates.
For companies and individuals with existing bank loans, repayments are reduced; for others,______ tax cuts______ becomes less expensive. Most Central Banks drop rates by quarter-points or, at crucial times, half-points. Lowering rates still takes two or three quarters to benefit an economy, and it does also have unfortunate new borrowing_
The negative consequences are that it weakens a nation's currency, and that any growth it causes may be inflationary.
Economic stimulus
A national government can choose to spend money- usually money it must borrow - on all sorts of projects in order to stimulate the economy. This puts money back into people's pockets so that they can buy goods and services to boost the economy. __________ tax cuts______are another way of achieving the same effect. The problem arises when these measures lead to high levels of___government debt______ . Eventually that debt will have to be repaid.
Regulatory reforms
A country can implement reforms to the law in order to stimulate growth. These include measures to enhance competition, to liberalize the______labour market_____, to make it easier to start a new business, etc.
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