National economy of the USA
The United States of America is a highly industrialized country. It has a lot of mineral deposits such as coal, gold, silver, iron ore, copper, lead and zink. The south, especially Texas is rich in oil. The coalfields in Pennsylvania are rich in coal. The USA is the world’s leading producer of copper and the world’s second producer of iron ore and coal. Among the most important manufacturing industries are the production of aircraft, cars, computers, armaments, furniture and paper. Together, all sectors of the American economy produce almost $5,000 billion worth of goods and services each year.
Illinois, Iowa, Nebraska constitute the richest farming region known as the Corn Belt. They grow mostly corn and wheat there. California is a fruit raising area. Oranges, grapefruit, lemons, as well as other fruits, wines and vegetables are sent all over the States and exported to other parts of the world. America exports about $ 550,000 million worth of farm products each year. It produces half of the world’s soybeans and corn, and vegetable oil.
American industries have become more service-oriented. Of 16 million new jobs created lately, almost 85% have been in service industries: commerce, stocks and goods speculation, hotel and tourism services, financial and auditor’s advice, medical services and others.
The bulk of American wealth is produced by private industries and businesses, ranging from giants like General Motors or IBM Inc. to thousands of small independent enterprises. The public sector accounts for only one-fifth of American economic activity.
The USA is the world’s largest exporter of different goods and services, investor and creditor; it has a favourable balance of trade. This fact guarantees high living standards to the Americans, most of whom belong to the middle economic class.
The government of the USA plays a particular role in running the economy of the country. It supports the development of the country’s transportation network, checks the quality of foods and medicines, insures bank deposits, and guarantees long-term loans and mortgages to the citizens.
Assignment 6. Make up a list of products created in:
· manufacturing industries;
· agriculture;
· service industries.
Assignment 7. Make written translation of the following passage.
Recently, unemployment in the USA was calculated at about 7%. To support the unemployed the government provides short-term unemployment compensation to replace wage losses between jobs. In addition, it provides job training to help unemployed Americans to acquire a new profession.
Assignment 8.Complete the sentences with the proper words from the list below:
quality, ranging, worth of, oil deposits, loan
1. Texas is famous for its… 2. This company produces UAH 1.5 million… footwear annually. 3. We are continuously improving the … of our services. 4. They export different machinery … from small farming machines to home appliances. 6. Young families can get a long-term … to buy a flat.
Assignment 9. Get ready to speak about the economy of the USA.