VOCABULARY. boom n – экономический подъем

boom n – экономический подъем

business cycles – экономический цикл

depreciate v – обесцениваться

depression n – экономический спад

deteriorate v – ухудшаться

employment n – занятость

full ~ – полная занятость

expansion n –расширение; распространение

gap n – разрыв

deflationary ~ – дефляционный разрыв

hinder v – препятствовать

inputs n – затраты

lay off v – увольнять

obsolete adj – устарелый

output n – выпуск (продукции)

peak n – пик, высшая точка колебания

recession n (syn. contraction, downturn) – спад производства, рецессия

recovery n (syn. upturn, expansion) – восстановление, оживление, подъем

seek v – искать

shortage n (syn. deficit) – недостаток, дефицит

switch v – изменять направление; переключать

temporary adj – временный

trough n – низшая точка, «дно» цикла

turnover n – оборот капитала

unemployment n -- безработица

cyclical ~ – циклическая безработица

frictional ~ – фрикционная безработица

structural ~ – структурная безработица

GLOSSARY

· Business cycle – alternating periods of economic growth and contraction, which can be measured by changes in real GDP.

· Cyclical unemployment – unemployment caused by the lack of jobs during a recession.

· Economic growth – an expansion in national output measured by the annual percentage increase in a nation’s real GDP.

· Frictional unemployment – unemployment caused by the normal search time required by workers with marketable skills who are changing jobs, initially entering the labour force, re-entering the labour force, or seasonally unemployed.

· Full employment – the situation in which an economy operates at an unemployment rate equal to the sum of the frictional and structural unemployment rates.

· Peak – the phase of the business cycle in which real GDP reaches its maximum after rising during a recovery.

· Recession – a downturn in the business cycle during which real GDP declines.

· Recovery – an upturn in the business cycle during which real GDP rises; also called an expansion.

· Structural unemployment – unemployment caused by a mismatch of the skills required for existing job opportunities.

· Trough – the phase of the business cycle in which real GDP reaches its minimum after falling during a recession.