tailieunhanh - ENGLISH FOR AGRICULTURAL ECONOMICS - PART 8

Tham khảo tài liệu 'english for agricultural economics - part 8', ngoại ngữ, anh văn thương mại phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 69 4. We run fast. We felt tired 5. The weather is getting hot. I feel much miserable. More exercise HOW DOES INFLATION AFFECT THE WORLD ECONOMY An economy that grows too quickly can be a bad thing. With a decline in unemployment companies are forced to pay higher wages for scarce workers and prices of goods and services are raised to pay for their increased costs. Inflation is usually highest during times of economic chaos such as energy shocks wars or debt crises when there is a shortage of basic goods and services In a booming economy inflation begins to rise as consumers and businesses compete with each other for goods and services bidding up prices in their hurry to buy a limited amount of products. The increase in prices usually leads workers to ask for increasingly higher wages to keep up with inflation When government and central banks see signs of inflation they try to slow down the economy. They increase interest rates which makes almost all activities such as building new factories more expensive. Higher interest rates tend to discourage business and consumer spending leading to reduction in jobs and a slow down in the economy. With favorable inflation and interest rates a country can attract foreign investment. When a country s economy grows too strongly however and it looks as if runaway inflation is about to rear up its ugly head international investors quickly move their money out preferring to invest their funds in countries with more stable economic growth and predictable inflation rates. Comprehension questions Answer the following questions 1. When is inflation highest 2. What might a booming economy lead to 3. What do workers expect when prices increase 4. What is the role of government and central banks in fighting inflation 70 6. What happens if interest rates increase Vocabulary exercises 1. Fill in the blanks with words from the text 1. The weather in this area is not it can change from rain to sun and back to rain within one hour

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