L. Suggest appropriate derivatives for each of the following words from the text. Then complete each sentence below with the correct form of the word.

1) economy

o More and more the American … is influenced by dynamic … overseas.

o Between 1995 and 2005, the U.S. accounted for one-third of global … expansion.

2) proprietor

o Hotel and guest house … are hopeful that business this year will be good.

o The sole … is the most common type of business in many western countries.

3) owned

o Under its plans, 10% of the new company would be … by Opel employees.

o I did tell people about this but no one except the owner and … believed me.

o Earlier in the year, Malaysia relaxed its rules for foreign … of investment banks and insurance companies.

4) contribute

o They … so much to Northern Ireland in terms of strengthening their economy.

o I receive the full basic state pension having paid national insurance … .

5) person

o Only one online vote is permitted per … .

o In case of bankruptcy you can lose your ... assets.

6) farm

o Our … was 300 acres with a dairy herd, beef cattle and corn.

o From the nation’s earliest days, ... has held a crucial place in the American economy and culture.

o American ... owe their ability to produce large yields to a number of factors.

7) money

o Since the inflation of the 1970s, Federal Reserve … policy has emphasized preventing rapid escalation of general price levels.

o When the general price level is rising too fast, the Federal Reserve acts to slow economic expansion by reducing the … supply, thus rising short-term interest rates.

8) innovation

o … seek greener PC future.

o In an industry built on … new ideas are being touted every day.

9) serve

o The biggest U.S. … export category was travel by foreigners to the United States.

o We see signs of improving demand in the various markets we … .

10) grow

o Over the past decade, U.S. exports accounted for about a quarter of the economic … .

o May your imagination run wild and your enthusiasm … !

11) dominate

o Universities in the USA and the UK continue to … a list ranking the world's top higher education institutions.

o US … is likely to weaken by 2025 as India and China grow stronger, a new Washington intelligence report says.

12) organize

o The US government is trying to … an emergency meeting of finance ministers from the world's leading economic powers.

o The structure of business … depends on the nature of their activities.

M. Summarize the information about the US Economy. Use the headings below.

v Historical background

v Basic ingredients of the American economic system

v Types of businesses

v The role of the government

v Key sectors of the economy and their contribution towards the GDP