Контрольная работа № 5 Вариант 2

Задание 1. Выберите правильный вариант ответа

Share markets are institutions where shares are bought and sold according to fixed rules but at prices controlled by _______________.

а) exchange rates c) corporate products

b) lack of money d) supply and demand

Задание 2. Выберите правильный вариант ответа

If the price of gold fails ___________, you've earned nothing because commodities like gold do not pay interest.

а) moving c) to have moved

b) to move d) to be moved

Задание 3. Дополните микродиалог

How soon do I need to repay the loan? - _________________________.

а) Very simply. c) You can have monthly, semi-annual, or annual payments.

b) Please feel free to call me if you have any questions. d) Here's my card.

Задание 4. Выберите правильный вариант ответа

The condition of share markets as a whole is reflected by many indices, the most widely known of them being the _____________ in the USA.

а) BBC c) Dow Jones

b) FOB d) Nikkei

Задание 5. Прочитайте текст и определите, является ли выражение

In modern economies, token money is supplemented by ‘I owe you’ money.

а) истинным b) ложным c) нет информации в тексте

MONEY AND ITS FUNCTIONS

Money has several functions. It serves as a standard of value, a unit of account, a store of value and as a standard of deferred payment.

Money as the medium of exchange is used in one-half of almost all exchange. Workers exchange labour services for money. People buy and sell goods in exchange for money. We accept money not to consume it directly. Money is the medium through, which people exchange goods and services.

A barter economy has no medium of exchange. Goods are traded directly or swapped for other goods. In a barter economy, the seller and the buyer each must want something the other has to offer. Each person is simultaneously a seller and a buyer. There has to be a double coincidence of wants. Trading is very expensive in a barter economy. People must spend a lot of time and effort finding others with whom they can make mutually satisfactory swaps. A barter economy is wasteful. The use of money makes the trading process simpler and more efficient.

Money can also serve as a standard of value. Society considers it convenient to use a monetary unit to determine relative costs of different goods and services. In this function money appears as the unit of account, the unit in which prices are quoted and accounts are kept. In Russia prices are quoted in rubles; in Britain, in pounds sterling; in the USA, in US dollars; in France, in French francs.

Money is a store of value because it can be used to make purchases in the future. To be accepted in exchange, money has to be a store of value. Nobody would accept money as payment for goods supplied today if the money was going to be worthless when they tried to buy goods with it tomorrow. But money is neither the only nor necessarily the best store of value. Houses, stamp collections, and interest-bearing bank accounts all serve as stores of value.

Finally, money serves as a standard of deferred payment or a unit of account over time. When you borrow, the amount to be repaid next year is measured in pounds sterling or in some other hard currency. Although convenient, this is not an essential function of money. UK citizens can get bank loans specifying in dollars the amount that must be repaid next year. Thus the key feature of money is its use as a medium of exchange. For this, it must act as a store of value as well. And it is usually, though not invariably, convenient to make money the unit of account and standard of deferred payment as well.

There are different kinds of money. The examples of commodity money are ordinary goods which also serve as a medium of exchange. A token money is a means of payment whose value or purchasing power as money greatly exceeds its cost of production. By collectively agreeing to use token money, society economizes on the scarce resources required to produce money as a medium of exchange. In modern economies, token money is supplemented by IOY money. IOY money is a medium of exchange based on the debt of a private firm or individual. Bank deposits are medium of exchange because they are generally accepted as payment.

Задание 6. Перед Вами резюме. Соотнесите информацию под определенным номером с тем, что она обозначает

a) Current salary c) References

b) Present address d) Marital status

1	Date of Birth	27 February 1985
2	Name	Belova Margaret
3		18 Leninsky Prospekt, Moscow 128343, Russia
4		single
5	Other information	While working I attended various evening courses for business and information tech­nology. My interests include tennis, badminton, swimming and reading.
6		Mr. B. Norman, Assistant Director, Auto Importers Ltd., 38 Rostokino, Moscow, Russia. Mrs. A.Bunina, department head of Johnson Bros Ltd., 35, Ostozhenka Street, Moscow, Russia.
7		$ 5,000 per annum