Business Cycle
Vocabulary Tend Trend Phase Stage Decline Expansion Recession Contraction Slump Trough Recovery Regular Predictable Duration Frequency Magnitude To last Initiate Goal Create Avoid Unfortunately Spin out Settle (into) Over-riding Confidence Drop Output Slow down Decrease Reduction Replace Save Lay off hoard
Reduce Hit Bottom Irrational Exuberance Quarterly Monthly Income Retail sales Affect Stock Trigger Spur Hire Further In addition Availability Liquidity Turn Greed Bid up Assets Stock market Overvalued To lower A bear market A bull market
Business Cycle Stages growth trough peak recession recovery
Business Cycle Character At one time Business cycles were regular, with predictable duration. Today Business cycles are irregular, varying in frequency, magnitude and duration.
What happens in the business cycle? Boom: A period of fast economic growth. Recession: A period of decline in economic growth. Trough: A period when the economy heats bottom.
Expansion: A period when the economy starts growing again. Recovery: A period when the economy moves between recession and a boom. Peak: A period when the economy is in the state of “irrational exuberance”.
How are Stages of the Business Cycle Determined? Quarterly GDP growth rates Monthly figures as employment real personal income industrial production retail sales
What causes the business cycle? The forces of supply and demand The availability of capital
Practice Ex. 1 Match the verbs with their derivatives. A. define; grow; predict; expand; contract; reduce; consume; invest; indicate; recess. B. Recession; growth; contraction; definition; indicator; expansion; investment; reduction; investment; consumption.
Ex. 2 Give synonyms to the following words. Define – Growth – Decline – Goal – Spin out – Decrease – Save – Lay off – Trigger – Bid up -
Ex. 3 Translate into Russian the following word combinations. 1) 2) 3) 4) 5) 6) The business cycles were thought to be; They are widely believed; The business cycle is determined by; This is known as liquidity; A trough is accompanied by; An expansion is signaled by.
Ex. 4 Translate into Russian. 1) Цикл деловой активности описывает фазы экономического роста и спада. 2) Целью экономической политики является поддержание здоровых темпов роста. 3) Самый длительный экономический спад длился 65 месяцев. 4) Много факторов могут вывести экономику изпод контроля. 5) В фазе роста выпуск промышленной продукции высокий благодаря повышенному спросу. 6) В период рецессии фирмы увольняют работников и накапливают наличные средства.
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