Alan Greenspan and the American banker

PART 1

A. Understanding the main points

Decide whether the following statements are true or false.

True False

1. Greenspan’s swift decision to raise interest rates helped precipitate the stock market crash in October, 1987.

2. Bush lost the 1992 election because he did not believe his central banker.

3. There have been two essential aspects to sovereignty: the power to declare war and the authority to issue money.

4. From 1811 to 1816 the constituency for cheap money held off the central bank.

5. Seventy years were to pass before the country had a central bank again.

B. Vocabulary focus 1

Find words or phrases in the text which mean the same as the following:

1. worldwide

2. to deliver a sermon

3. the main story (as of a book or movie)

4. an increase in the volume of money and credit resulting in a continuing rise in the general price level

5. belonging to or intended for a particular individual or group

6. special honor or recognition

7. conformity to a standard of right

8. a rule of conduct or action established by custom or laid down and enforced by a governing authority

9. to utter speechlike but meaningless sounds

10. the human race.

C. Vocabulary focus 2

Give your explanations of ten different words or phrases from the text for other students in your group to find

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ALAN GREENSPAN AND THE AMERICAN BANKER

PART 2

A. Understanding the main points

Decide whether the following statements are true or false.

True False

1. Two fundamental changes have modified the system signed into law by Wilson on the eve of the Great War in Europe.

2. Three years after Strong’s death, the calamitous break came.

3. Money had to be pumped back into the economy.

4. In 1934 Roosevelt asked Greenspan to become the first chairman of the newly centralized system.

5. By 1945 the nation boasted a GDP of $112 billion.

B. Vocabulary focus 1

Find words or phrases in the text which mean the same as the following:

1. to divide into parts or sections

2. a charge for borrowed money that is generally a percentage of the amount borrowed

3. chief executive or head of a political unit

4. thought, idea

5. to issue an invitation to compete against one

6. one who has immediate charge and control

7. something impossible to sell

8. a bad dream

9. regular payment to an employee in return for his work or services

10. being involved in a crime.

C. Vocabulary focus 2

Give your explanations of ten different words or phrases from the text for other students in your group to find

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ALAN GREENSPAN AND THE AMERICAN BANKER

PART 3

Дата добавления: 2015-11-14