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Скачати одним файлом. Книга: Англійська для економістів - Гаращенко
19 Aggregate supply
A number of factors affect an economy’s aggregate supply. Two of these are the quantity of resources used in production and the quality of these resources. For example, an economy must have an adequate supply of natural resources and capital goods to be productive.
It also needs a skilled and highly motivated labour force. A third factor affecting aggregate supply is the efficiency with which the resources are combined. If they are combined in a productive way, aggregate supply will increase.
In order to measure aggregate supply, statistics must be kept. To keep with this task economists use national income accounting – a system of statistics that keeps track of production, consumption; saving and investment in the economy. National income accounting also makes it possible to trace long-run trends in the economy and to form new public policies to improve the economy.
The most important economic statistics kept in the national income accounts is Gross National Product (GNP). This is the dollar measure of the total amount of final goods and services produced in a year. It is one of the most important and comprehensive statistics kept on the economy’s performance.
Vocabularyaggregate supply – сукупна пропозиція
a skilled labour force – кваліфікована робоча сила
efficiency – дієвість, ефективність
track – дорога, шлях
to trace – простежувати
Gross National product (GNP) – валовий національний продукт
comprehensive – всебічний, глибокий.
І. Complete the sentences using the text:1. Aggregate supply is the total amount of goods and … .
2. There are two factors that affect an economy's aggregate supply, they are … .
3. Aggregate supply needs a skilled and … .
4. A third factor affecting aggregate supply is …
5. The most important economic statistics kept in the national income accounts is … .
6. Gross National product is … .
II. Answer these questions, basing your answers on the text:
1. What do economists study?
2. What does the term «aggregate supply» mean?
3. How many factors affect an economy’s aggregate supply? What are they?
4. When will aggregate supply increase?
5. What must be kept in order to measure aggregate supply?
6. What is national income accounting?
7. What helps to trace long-run trends in the economy and form new public policies? What is it aimed at?
8. Gross National Product is the dollar measure of the total amount of final goods and services produced in a year, isn’t it?
III. Say whether these statements are true or false and if they are false, say why.1. Economists study only the amount of goods and services brought to market by a single producer.
2. Aggregate supply is the total amount of goods and services produced by the economy in a given period.
3. There are three factors that affect an economy's aggregate supply.
4. If three factors are combined in a productive way, aggregate supply will decrease.
5. Economists use national income accounting to measure aggregate supply.
6. National income accounting helps to trace long-run trends in the economy.
7. National income accounting encourages the economic improvement.
8. Gross National Product is the dollar measure of the total amount of final goods and services produced in a year.
Книга: Англійська для економістів - Гаращенко
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