Текст 1. Read and translate into Ukrainian.
	Economic growth (1) refers to an increase in (2) a country’s annual output (3) of goods and services. The measurement of output which is used to measure (4) economic growth is normally the Gross National Product (5) (GNP). However, the Gross Domestic Product (6) (GDP) is also used for this purpose.
	The rate of economic growth (7) is often used as a measurement of changes in the standard of living (8). This means that it is changes in real GNP (9) which are important. Increases in GNP which are simply due to price increases cannot be treated as economic growth.
	If changes in GNP are to be used to measure how the standard of living is changing, we must also take account of (10) population changes. For example, if real GNP increases by 3 percent in one year (11), but total population (12) also increases by 3 percent in the same year, there would be no change in the average (13) standard of living. It is growth in output per person (14) which makes higher living standards possible.
	Economic growth can come about in two ways. First, a country may have many people out of work (15) and much capital and land lying idle (16). If these resources are put to work (17), GNP will increase. This is described as short-run growth (18) because, if other things do not change, there will be no further growth once full employment has been achieved (19). And second, even when all resources are fully employed, however, economic growth is still possible. Increases in the supplies (20) of labor and capital, and increases in the efficiency (21) with which economic resources are being used, will lead to increases in total output (22). This is described as long-run growth (23).
	If a rich country and a poor country have the same rates of economic growth, the difference in their living standards will not stay the same, it will be getting larger and larger.	1.	економiчний розвиток
2.	пiдвищення
3.	рiчна продуктивнiсть
4.	вимiрювати
5.	валовий нацiональний продукт
6.	валовий внутрiшнiй продукт
7.	рiвень економiчного розвитку
8.	життєвий рiвень
9.	реальний ВНП
10.	враховувати
11.	пiдвищитися на 3 вiдсотки за один рiк
12.	загальна кiлькiсть населення
13.	середнiй
14.	кiлькiсть продукцiї на людину
15.	безробiтнi люди
16.	не бути застосованим
17.	застосувати 
18.	короткострокове зростання
19.	досягти повного застосування
20.	ресурси
21.	ефективнiсть
22.	загадьний обсяг продукцiї
23.	довгострокове зростання

Exercise 1A. Match the phrases in column A with their equivalents in column B.

A	B
1. The rate of economic growth is often used as a measurement of changes in the standard of living.	A. Пiдвищення ВНП через звичайне зростання цiн не може вважатись економiчним розвитком.
2. If real GNP increases by 3 per cent in one year, but total population also increases by 3 per cent in the same year, there would be no change in the average standard of living.	B. Якщо в багатої країни та в бiдної країни однаковий рiвень економiчного розвитку, рiзниця в їхнiх рiвнях життя зростатиме i зростатиме.
3. Increases in the supplies of labor and capital, and increases in the efficiency with which economic resources are being used, will lead to increases in total output.	C. B країнi може бути багато безробiтних людей та незастосованих земельних ресурсiв та капiталу. Якщо застосувати усi цi ресурси, ВНП зросте.
4. Economic growth refers to an increase in a country’s annual output of goods and services.	D. Рiвень економiчного розвитку часто використовують як показник змiн у рiвнi життя.
5. A country may have many people out of work and much capital and land lying idle. If these resources are put to work, GNP will increase.	E. Зростання трудових ресурсiв та капiталу, а також пiдвищення ефектив-ностi застосування економiчних ресурсiв, спричинять зрiст загального обсягу продукцiї.
6. If a rich country and a poor country have the same rates of economic growth, the difference in their living standards will be getting larger and larger.	F. Якщо реальний ВНП пiдвищиться на 3 вiдсотки за один рiк, але загальна кiлькiсть населення теж зросте на 3 вiдсотки протягом того самого року, тодi у середньому життєвому рiвнi не вiдбудеться жодних змiн.
7. Increases in GNP which are simply due to price increases cannot be treated as economic growth.	G. Економiчний розвиток пояснюється пiдвищенням рiчної продуктивностi країни у виробництвi товарiв та послуг.

Exercise 1B. Translate the following words and word combinations into Ukrainian.

1. economic growth; 2. standard of living; 3. to take account of; 4. to achieve full employment; 5. total output; 6. long-run growth; 7. the rate of economic growth; 8. measurement of output; 9. to put to work; 10. to lie idle; 11. efficiency; 12. supplies of labor and capital; 13. to increase by 3 per cent; 14. output per person; 15. a country’s annual output of goods and services; 16. further growth; 17. to lead to increases; 18. due to price increases; 19. Gross National Product; 20. people out of work; 21. total population; 22. to measure economic growth; 23. Gross Domestic Product; 24. short-run growth; 25. to be treated as economic growth.