speakers
A a librarian
B a stewardess
C a taxi-driver
D a waitress
E an investment counselor
F a news broadcaster
G an electrician
H a pilot

PART THREE .
Questions 23-30
. You will hear a talk given by a senior economist of Germany. He talks about the German economic
policy-M3 and its real effect on German economy.
. You have to complete the sentences (23-30) by choosing the correct ending.
. Mark one letter (A ,B or C).

23. M3 means
A limiting money supply.
B Wide-ranged money supply.
C exporting government bonds.

24. the Bundesbank is going to
A increase the money supply.
B abandon the strong money supply.
C raise the interest rates.

25. Kiel institute of World Economics has found the evidence for
A short-term fluctuation of demand for money following German unification.
B long-run relationship between money supply growth and inflation.
C stable long-run demand for money.

26. Money supply growth will .
A help increasing the government bonds.
B increase the public debt.
C help financing of government debt.

27. Explanation of excessive money supply from the Bundesbank representatives is based on
A the fact that monetary capital GREw at a lower rate.
B the shifts between money and money capital. .
C the expansion of credit which has been driving money supply growth.

28. the speaker worries about the money supply because
A it is used in productive capacity.
B it is used mainly in machinery and equipment.
C it is used in bousing constriction and consumption.

29. Bank credit rising is mainly caused by
A money supply.
B public debt.
C German domestic savers.

30. Internal liabilities are increased in mainly by
A big investment.
B office consumption.
C finance transfers to East Germany.