Текст №1.

Money and Banking

1) All values in the economic system are measured in terms of money. Our goods and services are sold for money, and that money is in turn exchanged for other goods and services. Coins are adequate for small transactions, while paper notes are used for general business. There is additionally a wider sense of the word "money", covering anything which is used as a means of exchange, whatever form it may take. Originally, a valuable metal (gold, silver or copper) served as a constant store of value, and even today the American dollar is technically "backed" by the store of gold which the US government maintains. Because gold has been universally regarded as a very valuable metal, national currencies were for many years judged in terms of the so-called "gold standard". Nowadays however national currencies are considered to be as strong as the national economies which support them.

2) Valuable metal has generally been replaced by paper notes.
These notes are issued by governments and authorized banks, and are known as "legal tender". Other arrangements such as cheques and money orders are not legal tender. They perform the function of substitute money and are known as "instruments of credit". Credit is offered only when creditors believe that they have a good chance of
obtaining legal tender when they present such instruments at a bank or other authorized institution. If a man"s assets are considerable, then his credit will be good. If his assets are in doubt, then it will be difficult for him to obtain large sums of credit or even to pay for goods with a cheque.

The value of money is basically its value as a medium of exchange, or, as economists put it, its "purchasing power". This purchasing power is dependent on supply and demand. The demand for money is reckonable as the quantity needed to effect business transactions. An increase in business requires an increase in the amount of money coming into general circulation. But the demand for money is related not only to the quantity of business but also to the rapidity with which the business is done. The supply of money, on the other hand, is the actual amount in notes and coins available for business purposes. If too much money is available, its value decreases, and it does not buy as much as it did, say, five years earlier. This condition is known as "inflation".

3) Banks are closely concerned with the flow of money into and out of the economy. They often co-operate with governments in efforts to stabilize economies and to prevent inflation. They are specialists in the business of providing capital, and in allocating funds on credit. Banks originated as places to which people took
their valuables for safe-keeping, but today the great banks of the world have many functions in addition to acting as guardians of valuable private possessions.

4) Banks normally receive money from their customers in two distinct forms: on current account, and on deposit account. With a current account, a customer can issue personal cheques. No interest is paid by the bank on this type of account. With a deposit account, however, the customer undertakes to leave his money in the bank for
a minimum specified period of time. Interest is paid on this money.

5) The bank in turn lends the deposited money to customers who need capital. This activity earns interest for the bank, and this interest is almost always at a higher rate than any interest which the bank pays to its depositors. In this way the bank makes its main profits.

6) We can say that the primary function of a bank today is to act as an intermediary between depositors who wish to make interest on their savings, and borrowers who wish to obtain capital. The bank is a reservoir of loanable money, with streams of money flowing in and out. For this reason, economists and financiers often talk of money being "liquid", or of the "liquidity" of money. Many small
sums which might not otherwise be used as capital are rendered useful simply because the bank acts as a reservoir.

7) The system of banking rests upon a basis of trust. Innumerable acts of trust build up the system of which bankers, depositors and borrowers are part. They all agree to behave in certain predictable ways in relation to each other, and in relation to the rapid fluctuations of credit and debit. Consequently, business can be done and cheques can be written without any legal tender visibly changing hands.

II. Из 1 и 2 абзацев текста выпишите 2 предложения во вре-мени Present Indefinite Passive и 2 предложения во времени Present Perfect Passive и переведите их на русский язык.

Например: This condition is known as «inflation». - Это со-стояние известно как «инфляция». Once organizational structure has been established, areas of activities must be clearly defined. - Когда организационная структура установлена, должны быть четко определены сферы деятельности.

III. В следующих предложениях из текста найдите причастие I и причастие II в функции определения. Выпишите их и переве-дите на русский язык.

Например: Here"s our banks brochure listing the countries and the limits they"ll accept . . .

brochure listing the countries . . . - брошюра, перечисля-ющая страны . . . (Part I).

You can use Euro cheques in all listed countries ...

in all listed countries ... - .... во всех перечисленных странах . . . (Part II).

1. There is additionally a wider sense of the word «money», covering anything which is used as a means of exchange, whatever form it may take.

2. The demand for money is reckonable as the quantity needed to effect business transactions.

3. An increase in business requires an increase in the amount of money coming into general circulation.

4. The bank is a reservoir of loan able money with streams of money flowing in and out.

V. Определите тип (0, I, II) следующих условных предложе-ний из текста и переведите их на русский язык.

1. If a man"s assets are known to be considerable, then his credit will be good.

2. If his assets are in doubt, then it will be difficult for him to obtain large sums of credit.

3. If too much money is available, its value decreases, and it does not buy as much as it did, say, five years earlier.

4. If the customers didn"t keep their money on the deposit accounts the bank «wouldn"t be able to make its profits».

VI. Выпишите из текста:

1) 3 словосочетания с инфинитивом, отвечающим на вопрос зачем? для чего? (2,3,4 абзацы).

Например: ... to obtain large sums of credit . . . чтобы получить большие суммы кредита;

2) 2 словосочетания с инфинитивом, отвечающим на вопрос что делать? что сделать? (7 абзац).

Например: The method permits you to reach a consensus on a joint decision ... - Метод позволяет вам достичь согласия . . .

VII. Подберите в тексте антонимы к следующим словам:

Paper notes
Foreign currencies
Liabilities
Supply
Increase

Sell

Maximum

Borrow

Lower rate

Flow in

Credit

VIII. Найдите корни, от которых образованы данные слова. Выпишите транскрипцию и дайте значение исходного и произ-водного слова.

Financiers

Innumerable

Depositor

Borrower

Predictable

Fluctuation

Valuable

Specialist

Purchasing

Authorized

Transaction

Circulation

IX. Подберите соответствующие объяснения (a-g) терминам из текста (1-7).

Например: 2-d

X. Письменно переведите 5 и 6 абзацы текста «Money and Banking».

XI. Найдите в тексте и выпишите краткие ответы на вопросы.

Например:

1. Whose trust for each other maintains the banking system? - Bankers, depositors and borrowers.

2. What kind of money is used for general business?

3. What originally served as a store of value?

4. Who can issue paper notes?

5. In what two ways do banks receive money from their customers?

6. How does the bank make its main profit?

XII. Решите, являются ли утверждения, приведенные ниже верными (True) или неверными (False) и напишите соответствующую букву (Т или F) напротив каждой цифры.

Например: 1T

1.The US dollar is a constant store of value.

2.The purchasing power of money depends upon supply and demand.

3. The demand for money is related to the rapidity with which business is done.

4. You can earn interest on a current account.

5. Banks do not lend money to depositors who need capital.

6. The main profits of a bank come from lending money.

Текст № 2

Remuneration

XIII. Прочитайте текст. Подберите к подчеркнутым словам и выражениям из текста аналогичные по смыслу слова и выражения из данных в рамке.

Most of the full-time employees at our headquarters in Manchester earn an annual salary, divided into twelve monthly payments. Income tax is automatically (1) subtracted from the salary each month, along with National Insurance contributions. The staff in our London office also receive a London (2) weighting, because living and working in the capital is more expensive. Unlike many public sector jobs (civil servants, teachers, nurses, and so on) our staff do not receive (3) automatic increases to their salary every year. Pay rises are given according to merit, and there is no fixed pay-scale. We have an appraisal system in which the managers (4) assess the performance of their subordinates every December. The (5) senior managers are also paid a bonus at the end of the year if the financial results are good, on top of their basic (6) remuneration, which is already rather high.

The sales force earn a basic salary, plus (7) a percentage of the value of their sales, which is obviously an (8) encouragement to higher productivity. On the other hand, the (9) reps do not receive overtime pay if they work long hours. The (10) potential income of the most successful ones is higher than that of some of the managers.

The hourly paid staff-cleaners, canteen workers, and so on - receive their wages in (11) notes and coins in a pay packet every Friday. Of course, this is after all deductions such as tax and insurance contributions.

Because we are in the insurance business we all get at least one (12) perk - cheap insurance policies.

* Reps = sales representatives

XIV. Найдите в тексте английские эквиваленты следующих рус-ских слов и выражений:

1) служащие, работающие на полный рабочий день

2) ежегодная заработная плата

3) подоходный налог

4) заслуга

5) подчиненные

6) премия

7) процентное отношение

8) высокая производительность труда

9) оплата за сверхурочную работу

10) дополнительные льготы

XV. Составьте правильные по смыслу предложения из коло-нок таблицы.

Например: Wages are paid to the hourly paid staff.