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Скачати одним файлом. Книга: Англійська для економістів - Гаращенко
7 The national debt
What is a national debt? It is the money borrowed by the government of the country. From whom is it borrowed? It is borrowed from insurance companies, from trust companies and banks from large corporations which often invest their surplus funds in government bonds and from individuals.
If governments always had surpluses year by year in their financing, there would be no national debts. The national debt of a country is made up of the sum total of all deficits it has experienced in the past, less any surpluses it has enjoyed. Sometimes confusion arises over the terms gross debt and net debt. The gross national debt is the total obligations of the government. The net debt is obtained by subtracting the amount of the government’s assets from the gross debt.
Vocabularygovernment expenditures – урядові витрати
a fiscal year – фіскальний рік
current revenues – поточні прибутки
emergency – надзвичайний стан
debt – борг, заборгованість
to borrow – позичати гроші у когось
insurance company – страхова компанія
trust company – трастова компанія
surplus funds – надлишкові фонди
government bonds – урядові облігації
gross debt – валовий борг
net debt – чистий борг
to obtain – отримувати, діставати, здобувати
to subtract – віднімати
government assets – урядові активи
I. Complete the sentences using the text:1. In theory, government expenditures ... .
2. Between 1930 and 1950 , the united States ... .
3. A national debt is the money borrowed by the government of the country from ... .
4. The national debt of a country is made up of ... .
5. The gross national debt is ... .
6. The net debt is obtained by ... .
II. Say whether these statements are true or false and if they are false, say why.1. Government expenditures in a fiscal year are made out of current revenues from taxation for that year.
2. In practice governments spend more than they take in because of war or national emergency.
3. National debt is the money borrowed by the government of the country.
4. This money is borrowed only from large corporations.
5. If governments had surpluses year by year in their financing, there would be no national debts.
6. The national debt of a country is made up of the sum total of some deficits it has experienced in the past.
7. The gross national debt is the total obligations of the government.
8. The net debt is obtained by adding the amount of the government’s assets to the gross debt.
III. Answer the questions, basing your answers on the text.1. What should government expenditures in a fiscal year be made out of?
2. Is it normal to have an unbalanced budget?
3. What is a national debt?
4. What is the national debt of a country made up of?
5. What is the gross national debt?
6. What is the net debt obtained by?
Книга: Англійська для економістів - Гаращенко
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