Market Leader Pre-intermediate Student’s Book Sample Unit.pdf – unit 7 New business Three components make an entrepreneur: the person, the idea and the | Course Hero

67

A

Match the economic terms (

1

–

10

) to their definitions (a–j).

1

2

3

4

5

6

7

8

9

10

interest rate

exchange rate

inflation rate

labour force

tax incentives

government bureaucracy

GDP (gross domestic product)

unemployment rate

foreign investment

balance of trade

a)

b)

c)

d)

e)

f)

g)

h)

i)

j)

total value of goods and services produced

in a country

percentage increase in prices

cost of borrowing money

price at which one currency can buy another

percentage of people without jobs

the number of people working

low taxes to encourage business activity

money from overseas

official rules/regulations/paperwork

difference in value between a country’s

imports and exports

B

Try to complete this economic profile without looking back at the terms

in Exercise A.

The economy is stable following the problems of the past two years. By following a tight

monetary policy, the government has reduced the i

nflation rate

1

to

2

%. For borrowers,

after going up dramatically, the i

r

2

is now down to

8

%. The last six

months have seen a slight improvement in the e

r

3

against the dollar.

For the country as a whole, the G

4

has grown by

0

.

15

%. Exports are increasing,

and the b

of t

5

is starting to look much healthier.

In terms of jobs, the u

r

6

continues to be a problem, as it is still

16

%.

In order to stimulate the economy and attract f

i

7

from abroad, the

government is offering new t

i

8

, as well as making a renewed effort to

reduce g

b

9

and red tape. Finally, a large skilled l

f

10

means there could be attractive investment opportunities over the next five years.