REVISION PT1 BE2
1) ASSOCIATIONS (TOPICS OR INDIVIDUAL WORDS)

POLICY

CURRENT

MONEY SUPPLY

CLAIM

OVERDRAW

INTEREST RATES

UNDERWRITER

WITHDRAW
CEILINGS AND FLOORS

Key: INSURANCE
Key:
MONETARY POLICY
Key:

MINUTES

COMMERCIAL

TAKE

ITEM

INVESTMENT

SPREAD

AGENDA

ISLAMIC

EVALUATE
Key:
Key:
Key:

LUMP SUM

TARIFFS

GLASS STEAGAL

TAX SHELTER

QUOTAS

PASS

SPOUSE

SUBSIDIES

REPEAL
Key:
Key:
Key:

DEPOSITS

FIXED

LOSS ADJUSTER

INTEREST

FLOATING

UNDERWRITER

SPREAD

GOLD

INSURANCE BROKER
Key:
COVERTIBILITY
Key:
Key.

FEES

OWE

STOCKBROKING

PENSION

IN THE RED

BOND DEALING

SALARY

BORROW

INVESTMENT ADVICE
Key:
Key:
Key:

UNEMPLOYMENT
 SUBPRIME

TO ROLLOVER

DISCOUNT
 MBS

TO SECURE

INTEREST
 DEFAULT

TO REPAY
Key:
Key:
Key:
WHAT DO THESE ACRONYMS STAND FOR? WHY DID WE TALK ABOUT THEM?
WTO
GDP
GATT
EU
PPP
IMF
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MATCH.
Joseph Schumpeter
clean floating exchange rates
George Soros
creative destruction
Milton Friedman
SICKO
Michael Moore
currency speculation (1992)
FILL IN THE GAPS WITH APPROPRIATE NOUNS.
1. The insurance company expects to receive more money in ____________than it pays out in
____________.
2. The central bank supervises ___________ ____________.
3. Investment banks make their profits from __________ they charge for their services.
4. Commercial banks pay ____________to depositors.
5. Central banks can act as a __________of last resort.
6. A _____________which lasts more than six months is called a depression.
7. A _____ - shaped recession begins abruptly, reaches a trough quickly and recovers quickly.
8. Nations may have an absolute or comparative advantage in producing goods and services
because of factors of production (raw ___________, climate, division of ________,
_____________ of scale etc.).
9. Dumping is selling of goods abroad at below cost price in order to destroy or weaken
_______________ .
10. Many developing countries have huge debts with Western banks on which they are unable to
pay the ___________, let alone repay the __________.
11. Import ____________ is producing and protecting goods that cost more than those made
____________.
12. Developing countries tend to liberalize their economies by lowering trade ____________ and
opening up to international trade.
MAKE MEANINGFUL SENTENCES WITH THESE WORDS IN THE CONTEXT OF TOPICS
COVERED.
rise
raise
commission
provision
eventually
syndicate
labour union
insure
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ensure
WHICH TERM IS DEFINED?
1. the primary business street of towns or cities in the UK and Ireland, a focal point for shops and
retailers in the city centre
2. a request by a policyholder for compensation under the policy.
3. the person who assesses risk and calculates a premium.
4. the activity of buying, selling or exchanging goods within a country or between countries.
5. a person or company who owes you money.
6. factors which cause the average cost of producing something to fall as output increases.
7. a floating exchange rate determined purely by demand and supply.
8. regular costs (rent, salaries, heat, lighting, etc.)
9. a principle which states that countries should produce whatever they can make the most
cheaply
FILL IN THE VERB IN INFINITIVE.
1. You need to __________your debit card in the slot to _________ a transaction at an ATM.
2. May I ____________my money here? I have dollars and I need Swiss francs.
3. If there are more sellers of a currency, its price will ___________.
4. In 1971 gold convertibility had to end because the Fed could no longer _____________its
currency.
5. Central banks sometimes ____________ in exchange markets. They ________ their foreign
currency reserves to _________its value and they ___________their own currency to
____________its value.
6. Between 1944 and 1971 governments used to ____________their currencies against the US$.
7. Central banks __________ the monetary system and ____________ monetary policy.
8. After an accident you can __________ a claim hoping the insurance company will
______________ it.
9. Tariffs can be imposed to ____________against restrictions imposed by other countries.
10. In the 1990s Third World countries tended to _____________their economies, lowering trade
barriers and opening up to international trade.
11. The administration decided to ____________the Glass Steagall Act in 1999.
12. Many manufacturers _________against currency fluctuations by way of futures contracts.
13. A floating currency can either ___________ or depreciate.
14. When people feel good about their future, they ___________debts.
15. In a downturn the economy will eventually ___________a trough and
______________expanding again.
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16. The economy will eventually __________ a peak and start to ____________ again, the demand
will _______________ and the economy will work at below its potential.
17. You can ____________ life insurance over the Internet.
18. Companies only ______________while demand is growing.
19. If they ___________on their payments, the bank will take their car.
20. Many banks had to _____________worthless subprime MBSs (toxic assets).
21. The IMF regulations _____________ severe conditions to developing countries.
22. With quotas governments can ________ a limit to imports.
23. Governments, unlike most economists, often want to ____________ various areas of the
economy.
24. The WTO wants to ______________free trade and ____________protectionism. It has to
____________ trade agreements with countries and __________trade disputes.
ODD ONE OUT (EXPLAIN YOUR CHOICE)
1. debt – reschedule- rollover – barter
2. tariff- living standard- quota-barrier
3. loss-cover-subsidy-policy
4. fix - float- peg- gold
5. slump – standing order - peak – trough
6. subprime borrower - broker- agent – underwriter
7. deregulation- liberalization- unfettered free trade- protectionism
8. mortgage- collateral – hedge fund- loan
WHAT’S THE DIFFERENCE BETWEEN:
1. broker and agent
2. tariffs and quotas
3. credit card and debit card
4. speculation and hedging
5. absolute advantage and comparative advantage
6. put off a meeting and cancel a meeting
7. owe and own
8. borrow and lend
WHAT ARE THE OPPOSITES:
1. insurer2. to deposit money3. credit4. lend5. trade deficit-
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6. appreciate7. profit –
8. pass an act -
FILL IN THE MISSING PART IN THESE COLLOCATIONS. THEN MAKE SENTENCES IN THE
CONTEXT OF TOPICS COVERED.
1. issue s__________
2. make a p_________
3. charge a f________
4. peg a c____________
5. achieve e___________ of s_________
WHAT ARE THE SYNONYMS (OR NEAR SYNONYMS)?
1. creditworthiness
2. cash dispenser
3. High Street bank
4. credit crunch
5. trade deficit
6. be in the red
7. counter-trade
8. decrease
9. collateral
CORRECT THE MISTAKES
1. Brokers recieve provision
2. We can discuss about that issue later.
3. Let me give you some useful informations.
4. The bank will pay interests if you deposit money in the savings account.
5. Our bank borrows money to future home-owners.
COLLOCATIONS
1) WHICH NOUN CAN FOLLOW AFTER THESE VERBS?
2) USE IN CONTEXT.
1. ROLLOVER
23. FIX
2. ABOLISH
24. DOMINATE
3. ISSUE
25. REPEAL
4. IMPLEMENT
26. WITHDRAW
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5. WEAKEN
27. REACH
6. PROTECT
28. SUBSIDIZE
7. IMPOSE
29. LIBERALIZE
8. LIMIT
30. SUPPLY
9. EXPAND
31. DEREGULATE
10. INCREASE
32. OVERDRAW
11. RAISE
33. PROVIDE
12. SET
34. MAKE
13. BE LIABLE TO
35. SECURE
14. RECEIVE
36. SUPERVISE
15. CHARGE
37. MAINTAIN
16. EXCHANGE
38. ACHIEVE
17. UNDERWRITE
39. COLLECT
18. PASS
40. FILE
19. DRAW UP
41. CANCEL
20. PAY OFF
42. REPAY
21. REPLENISH
43. EVALUATE
WHAT'S MISSING IN THESE DIALOGUES?
A: I think we should r_________ their salaries
B: I agree with you up to a p________.
A: There are five items on the a__________ today.
B: Perhaps we should take a short b___________ after the third item?
A: I’m afraid we’ll have to d__________ this meeting to a close.
B: But, I’d like to finish what I was s__________...
A: As far as my department is c____________, we can agree to minor cuts in the
B: So, if I understand you c____________, you are willing to reduce the marketing
budget.
budget by 5 %?
WHAT ARE THE OPPOSITES?
1. import
2. visible trade
3. deficit
4. in the short term
5. borrow
6. developed country
7. fall
8. competitive
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WHAT’S THE DIFFERENCE BETWEEN:
1. a brick-and-mortar business and a click-and-mortar business
2. a retailer and a wholesaler
3. a department store and a shopping mall
4. tariffs and quotas
5. reschedule a debt and rollover a debt
6. a high-street store and a discount store
7. put off a meeting and cancel a meeting
8. owe and own
9. borrow and lend
10. clean and dirty floating exchange rates
11. fixed and floating exchange rates
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