The Role of Government in the Economy

1. In every economy the work of different firms has to be coordinated. In a market economy this coordination is achieved by means of markets. Nevertheless the debate over the role for Government in a market economy is continuing and the issue is being widely discussed at the present time. An economy based on free enterprise is generally characterised by private ownership and initiative, with a relative absence of government involvement. However, government intervention has been found necessary from time to time to ensure that economic opportunities are fair, to dampen inflation and to stimulate growth.

2. Governments plays a big role in American free enterprise system. Federal, state and local government tax, regulate, and support business. In the United States there are agencies to regulate safety, health, environment, transport, communications, trade, labour relations, and finances. Regulation ensures that business serves the best interests of the people as a whole.

3.Some industries- nuclear power, for instance – have been regulated more closely over the last few years than ever before. In others the trend has been towards deregulation or reduction of administrative burden on the economy.

4.The U.S. economy has a tradition of government intervention for specific economic purposes- including controlling inflation, limiting monopoly, protecting the consumer, providing for the poor. The government also affect the economy by controlling the money supply and the use of credit. Theaimisabalancebudget.

Iх. Прочтите абзац № 2 и ответьте письменно на следующий вопрос:

What do federal and local governments do?

Вариант 5

I. Поставьте предложения в вопросительную и отрицательную формы:

1. Bookkeepers first record all the appropriate figures in journals.

2. There are different types of shares.

3. The Russian economy grew enormously after the 1860s.

II. Прочитайте предложения (1-4) и вставьте) в пропуски пропущенные словосочетания (a-d):

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