Ex 5. Answer the questions and do the assignments. 1. What are the major stages of the US economy history?

1. What are the major stages of the US economy history?

2. How is the economy of colonial America characterized? What boosted the local economy at that time?

3. What is implied in the idea of individual entrepreneurship?

4. How did the departure of British investment influence the American economy?

5. Speak of the two points of view on the development of the US economy. Which one proved the more effective?

6. Why was the development of transport critical for the US economy?

7. What is the role of individual business enterprise in the United States economy?

8. What is the Great Depression? How was it overcome?

9. What are the characteristic features of the US economy of the Modern Era?

10. How did the recent economic crisis affect the country?

Ex 6. Find in the text the words and phrases that refer to the following notions and comment on them:

1) dynamic economic expansion

2) the agrarian society

3) tremendous growth of the industrial infrastructure

4) the Great Depression

5) the economic super power

Writing

Task I. Fill in the table illustrating the major stages of the US economic history. Use external sources if necessary.

Stage	Period	Features	Main events
Stage I Stage II Stage III Stage IV Stage V Stage VI

Task II. Write a Summary and a GIST of the text.