It often occurs on a generally upward growth path and has a

Variable time span, typically of the order of five years.

G) A downturn in the business cycle in which there is a sustained

High level of unemployment. The three or four years following

Experienced the last major depression in the world

Economy.

H) The simultaneous existence of stagnation, unemployment,

And inflation. In the 1970s the problem emerged, largely as

The natural rate of unemployment.

Read the text, complete it using the words from the box, and translate it into Russian

Decrease of demand, foods, business, developments, industrial profits, optimism

Russia at the Beginning o f the 21st Century

Tendencies towards slowdown of the Russian economy increased towards the end of 2001. According

To the... (1) survey by the Institute for the Economy in Transition (1ET), industrial producers

Experienced a sharp........... (2) for their production. This occurred in all industries apart

From the power sector,... (3) and timber. The worst hit were chemicals and construction materials.

The IET Industrial Confidence Indicator also declined and, though still positive, was at its lowest

Level since November 1998, reflecting shattered... (4) of industrial producers.

These... (5) were not yet fully reflected in October 2001 corporate profit data, reported by

Goskomstat for large and medium-sized enterprises. The deterioration of aggregate... (6) by 26 per