Postagens
Welcome back to another post!
➧ PROVA DE LÍNGUA INGLESA: FGV-2012-ECONOMIA/SP-VESTIBULAR-1º SEMESTRE-04/12/2011.
1-VERBS:
• [to default = não efetuar pagamento]
• [to drag = arrastar]
• [to face = enfrentar]
• [to fester = apodrecer]
• [to fund = financiar]
• [to handle = manipular, tratar, manejar]
• [to halve = reduzir a metade, cortar pela metade]
• [to hike (1) = caminhar]
• [to hike (2) = aumentar (aumentar o custo de algo)]
• [to yank = arrancar, puxar]
• [to prevent = evitar]
• [to profit = lucrar, ganhar dinheiro]
• [to raise = levantar]
• [to set = fixar, estabelecer]
2-PHRASAL VERBS - USES:
• [to drag on = arrastar-se, mover-se lentamente]
• [to yank out = draw off = retirar (R$, U$)]
• [to yank out = draw off = retirar (R$, U$)]
3-PERFECT TENSE - USES:
• [that target has been 4.5%, = essa meta é de 4,5%]
• [Indicators of stress have risen sharply = Os indicadores de estresse aumentaram acentuadamente]
• [mess has been festering = A confusão tem se apodrecida]
4-MODAL VERBS - USES:
• [the company couldn’t pay its bills. = a empresa não podia pagar suas contas.]
4-MODAL VERBS - USES:
• [the company couldn’t pay its bills. = a empresa não podia pagar suas contas.]
5-NOUN:
• [coin (Kóin) = moeda]
• [crisis (Kráissês) = crise]
• [currency (Kôrênsi) = moeda (padrão monetário de um país, por exemplo dólar, euro, libras, real, etc)]
• [debt (Détch) = dívida]
• [default (dhiFóutch) = o não pagamento de um devedor no prazo estabelecido]
• [exposure (êksPôjôr) = exposição]
• [feature (Fíuthôr) = característica]
• [Greece (Gríss) = Grécia]
• [lack of (léKóv) = falta de]
• [losses = perdas]
• [mandate (1) = mandato (período de tempo, mandato do governador, prefeito, etc)]
• [mandate (2) = ordem (jurídica, presidencial, etc)]
• [measures (Méjôrs) = medidas]
• [midsummer = pleno verão]
• [negotiation (nêgôxiÊixén) = negociação]
• [peril (Pêurôu) = perigo]
• [target (Tórgueth) = meta, alvo]
6-ADJECTIVES:
• [granted (Gréntêd) = garantido, admitido]
• [handled (RRéndôud) = manipulado, tratado]
• [long (Lõ) = longo]
• [tamed (Têimd) = domada, domesticada]
7-ADVERBS:
• [finally (Fáinôli) = finalmente]
• [increasingly (ÍnkrêssênLí) = cada vez mais]
• [quickly = rapidamente]
• [sharply (Xórpli) = acentuadamente, fortemente]
8-NOUN PHRASES(Adjective+noun):
• [American money market = Mercado financeiro americano]
• [banking crisis = crise bancária]
• [chronic condition = condição crônica]
• [European banks = bancos europeus]
• [life-or-death crisis = crise de vida ou morte]
• [self-fulfilling (SéufôFílén)= auto-realizável]
• [short periods = curtos períodos]
• [weak banks = bancos fracos]
9-COLLOCATIONS:
• [become self-fulfilling = concretizar-se, algo se concretizar]
• [For much of the last century = Durante grande parte do século passado,]
10-TECHNICAL ENGLISH:(Business English, Financial English)
• [benchmark rate = taxa básica de juros]
• [bonds = títulos]
• [Central Bank = Banco Central]
• [cheap funding = financiamento barato]
• [defaulting (dhiFóutén) = inadimplência]
• [fiscal measures = medidas fiscais]
• [Greek default = calote grego]
• [Hedge = é uma estratégia, que pretende proteger o investidor]
• [inflation (inFlêixén) = inflação]
• [International Monetary Fund = IMF = Fundo Monetário Internacional (FMI)]
• [investors = investidors]
• [hedge fund = fundo de investimento livre, muito especulativo porém com elevado risco]
• [lenders = credores]
• [loan (Lõn) = lending (Léndén) = empréstimo]
• [long-term loans = empréstimos de longo prazo]
• [rate = taxa]
• [Real Plan = Plano Real]
• [savings accounts = contas de poupança, caderneta de poupança]
• [the overvaluation of the currency = a sobrevalorização da moeda]
• [the price of basis swaps = o preço de base de troca]
• [withdrawal (uêfDhról) = retirada, saque]
11-GENITIVE CASE:
• [Europe’s banks = os bancos europeus]
• [Europe’s debt mess = A confusão da dívida da Europa]
• [Europe’s debt mess = A confusão da dívida da Europa]
12-CONFUSING ENGLISH WORDS:
(A) to lend (lend, lent, lent), to borrow (borrow, borrowed, borrowed) e to loan (loan, loaned, loaned).
• [to lend (Lénd) = dar algo emprestado.]
• [to borrow (Bórôu) = pegar algo emprestado.]
• [to loan (Lõn) = lend = emprestar, dar algo emprestado]
13-FALSE COGNATES:
(A) eventually X eventualmente.
• [eventually (iVêntchûlí) = finalmente. NÃO É eventualmente]
• [eventualmente = occasionally ]
➧ GABARITO:
01-E, 02-D, 03-A, 04-C, 05-B
06-E, 07-D, 08-B, 09-C, 10-A
11-A, 12-C, 13-E, 14-D, 15-B
➧ DIRECTIONS: Leia o texto a seguir e responda às questões de números 76 a 82.
Signs of Stress Grow at European Banks
By Peter Coy
The core of the problem? Some European banks are in peril of losing what they need most: cheap funding. Banks profit by borrowing money for short periods—rolling over some of their debt as often as nightly—to fund long-term loans at higher rates. As concern about their exposure to a sovereign default grows, European banks are paying more to borrow. Doubt about banks can quickly become self-fulfilling if worried depositors and lenders yank out their money. Remember: Lehman Brothers went from O.K. to dead in less than a week in 2008, when hedge funds and other banks concluded that the company couldn’t pay its bills.
Indicators of stress on European banks have risen sharply since midsummer. The eight largest U.S. money-market funds halved their lending to German, French, and U.K. banks over the past 12 months and stopped financing Italian and Spanish banks. Some Italian banks are so desperate for funds that they’re selling bonds to retail customers for five times the interest they offer on savings accounts.
Also, one arcane but critical sign of distress is the cost of a “basis swap”—a measure of how much European banks pay when they raise dollars by trading euro-denominated loans for dollar loans. The price of basis swaps has risen from 28 basis points (0.28 percentage points) of the deal value in mid-July to 98 basis points on Sept. 20. When the spread exceeds 150 basis points, “we are in large European bank failure zone,” says Conor Howell, head of exchange-traded funds trading at Christopher Street Capital in London.
The bottom line: Indicators of investor nervousness about the health of European banks are near or above their highest levels since 2008.
(www.businessweek.com/magazine/signs-of-stress-grow-at-europeanbanks-09222011.html. Adapted)
The language used in the first sentence of the text implicitly compares the European debt situation to
(A) the Greek economic crisis.
(B) a bank crisis.
(C) difficulties with the IMF.
(D) cheap funding.
(E) a disease.
(B) a bank crisis.
(C) difficulties with the IMF.
(D) cheap funding.
(E) a disease.
R E S P O S T A : E |
• A linguagem usada na primeira frase do texto compara implicitamente a situação da dívida europeia com...
(A) the Greek economic crisis.
(B) a bank crisis.
(C) difficulties with the IMF.
(D) cheap funding.
(E) a disease.
(B) a bank crisis.
(C) difficulties with the IMF.
(D) cheap funding.
(E) a disease.
• Informação (E) de acordo com o trecho (1º parágrafo):
• "[...] Europe’s debt mess has been festering for so long it sometimes feels more like a chronic condition than a life-or-death crisis.
• A confusão da dívida da Europa tem se agravado por tanto tempo que às vezes parece mais uma condição crônica do que uma crise de vida ou morte.
• "chronic condition"(condição crônica) é uma expressão que , metaforicamente, transmite a ideia da condição de um paciente que tem uma doença com evolução lenta, de longo prazo.
• O adjetivo "chronic" , literalmente, refere-se a qualidade de uma doença que está persistindo por muito tempo ou recorrendo constantemente.
02 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
(A) are being handled by the IMF.
(B) were made difficult for the lack of cheap funding.
(C) are going the same way as those of Lehman Brothers.
(D) are moving too slowly.
(E) will affect Europe as a whole.
(D) are moving too slowly.
(E) will affect Europe as a whole.
R E S P O S T A : D |
• Segundo o texto, AS NEGOCIAÇÕES para evitar a inadimplência da Grécia...
(A) are being handled by the IMF.
• estão sendo tratadas pelo FMI.
(B) were made difficult for the lack of cheap funding.
• foram dificultadas pela falta de financiamento barato.
(C) are going the same way as those of Lehman Brothers.
• estão indo na mesma direção que os do Lehman Brothers.
(D) are moving too slowly.
• estão se movendo muito lentamente.
• Informação (D) de acordo com o trecho (1º parágrafo):
• "[...] But as negotiations to prevent a Greek default drag on,..."
• Mas, à medida que as negociações para evitar um calote grego se arrastam,"
• "are moving too slowly" e "drag on" transmitem a mesma ideia: arrastam-se, estão se movendo muito devagar.
(E) will affect Europe as a whole.
• afetarão a Europa como um todo.
03 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
(A) they may quickly withdraw their money from them.
(B) hedge funds cannot survive very long.
(C) sovereign debts may accumulate over a short period.
(D) banks will have to pay more to borrow money from other banks.
(E) loans can only be made on an overnight basis.
(B) hedge funds cannot survive very long.
(C) sovereign debts may accumulate over a short period.
(D) banks will have to pay more to borrow money from other banks.
(E) loans can only be made on an overnight basis.
R E S P O S T A : A |
• O 2º parágrafo afirma que, QUANDO AS PESSOAS E EMPRESAS que lidam com bancos perdem a confiança neles,...
(A) they may quickly withdraw their money from them.
• elas podem rapidamente sacar seu dinheiro.
• Informação (A) de acordo com o trecho (2º parágrafo):
• "[...] Doubt about banks can quickly become self-fulfilling if worried depositors and lenders yank out their money.
• Dúvida sobre os bancos pode rapidamente se tornar auto-realizável se depositantes e credores preocupados retirarem seu dinheiro.
• Em outras palavras, QUANDO AS PESSOAS E EMPRESAS que lidam com bancos perdem a confiança neles, elas podem rapidamente retirarem seu dinheiro dos referidos bancos.
(B) hedge funds cannot survive very long."• os fundos de hedge não podem sobreviver por muito tempo.
(C) sovereign debts may accumulate over a short period.
(C) sovereign debts may accumulate over a short period.
• as dívidas soberanas podem se acumular em um curto período.
(D) banks will have to pay more to borrow money from other banks.
(D) banks will have to pay more to borrow money from other banks.
• os bancos terão que pagar mais para tomar dinheiro emprestado de outros bancos.
(E) loans can only be made on an overnight basis.
(E) loans can only be made on an overnight basis.
• os empréstimos só podem ser feitos durante a noite.
04 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
(A) won’t lend to Spanish and Italian banks after the summer is over.
(B) will cut all lending to European banks halfway through the summer.
(C) reduced the amount of money they lend to some European banks.
(D) may sell bonds to Italian banks, but charging a much higher interest rate.
(E) have reduced their savings accounts in Italian banks.
R E S P O S T A : C |
• De acordo com o 3º parágrafo, grandes fundos do mercado financeiro americano...
(A) won’t lend to Spanish and Italian banks after the summer is over.• não emprestarão para bancos espanhóis e italianos após o fim do verão.
(B) will cut all lending to European banks halfway through the summer.
• cortarão todos os empréstimos aos bancos europeus na metade do verão.
(C) reduced the amount of money they lend to some European banks.
• reduziram a quantidade de dinheiro que emprestam a alguns bancos europeus.
• Informação (C) de acordo com o trecho:
• "[...] The eight largest U.S. money-market funds halved their lending to German, French, and U.K. banks..."
• Os oito maiores fundos do mercado monetário dos EUA reduziram pela metade seus empréstimos a bancos alemães, franceses e britânicos...
• "reduced the amount of money they lend" e "halved their lending" transmitem a mesma ideia (redução de empréstimo).
• to halve = reduzir algo a metade, cortar pela metade.
(D) may sell bonds to Italian banks, but charging a much higher interest rate.
• podem vender títulos a bancos italianos, mas cobrando uma taxa de juros muito mais alta.
(E) have reduced their savings accounts in Italian banks.
• reduziram suas contas de poupança em bancos italianos.
05 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
The fact that the “price of basis swaps has risen from 28 basis
points (...) of the deal value in mid-July to 98 basis points on
Sept. 20”, as mentioned in the fourth paragraph,
(A) may have been caused by trading in places such as London.
(B) is an important indication that European banks are in a dangerous situation.
(C) will make European banks collapse soon enough.
(A) may have been caused by trading in places such as London.
(B) is an important indication that European banks are in a dangerous situation.
(C) will make European banks collapse soon enough.
(D) indicates that the European money-market depends
heavily on the dollar.
(E) will cause dollar loans to be traded by loans made in European currency.
(E) will cause dollar loans to be traded by loans made in European currency.
R E S P O S T A : B |
• O fato de o “preço da base de troca ter subido de 28 pontos base (...) do valor de mercado em meados de julho para 98 pontos em 20 de setembro”, conforme mencionado no quarto parágrafo,...
(A) may have been caused by trading in places such as London.
• pode ter sido causado por comércio em lugares como Londres.
(B) is an important indication that European banks are in a dangerous situation.
• é uma indicação importante de que os bancos europeus estão em situação perigosa.
• é uma indicação importante de que os bancos europeus estão em situação perigosa PORQUE o preço da base de troca ter subido de 28 pontos do valor de mercado em meados de julho para 98 pontos em 20 de setembro.
• "[...] The price of basis swaps has risen from 28 basis points (0.28 percentage points) of the deal value in mid-July to 98 basis points on Sept. 20.
(C) will make European banks collapse soon enough.
• fará com que os bancos europeus entrem em colapso em breve.
(D) indicates that the European money-market depends heavily on the dollar.
• indica que o mercado financeiro europeu depende muito do dólar.
(E) will cause dollar loans to be traded by loans made in European currency.
(E) will cause dollar loans to be traded by loans made in European currency.
• fará com que os empréstimos em dólares sejam negociados por empréstimos feitos em moeda europeia.
06 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
“doubt about
banks can quickly become self-fulfilling”,
the implication is
that these doubts
(A) should soon disappear.
(B) will fill banks with depositors and lenders.
(C) must make banks pay more for their bonds.
(D) might lose cheap funding.
(E) may become a reality.
(B) will fill banks with depositors and lenders.
(C) must make banks pay more for their bonds.
(D) might lose cheap funding.
(E) may become a reality.
R E S P O S T A : E |
• Quando, no segundo parágrafo, é dito que "doubt about banks can quickly become self-fulfilling"(a dúvida sobre os bancos pode rapidamente se concretizar), a implicação é que essas dúvidas...
(A) should soon disappear.• devem desaparecer em breve.
(B) will fill banks with depositors and lenders.
(B) will fill banks with depositors and lenders.
• encherão os bancos de depositantes e credores.
(C) must make banks pay more for their bonds.
(C) must make banks pay more for their bonds.
• devem fazer os bancos pagarem mais por seus títulos.
(D) might lose cheap funding.
(D) might lose cheap funding.
• podem perder financiamento barato.
(E) may become a reality.
(E) may become a reality.
• podem se tornar realidade.
• "can quickly become self-fulfilling" e "may become a reality" transmitem a mesma ideia: podem se tornar realidade.
07 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
The last sentence of the text implies that investors
(A) have been very distressed with European banks since 2008.
(B) may even lose their health due to the difficult situation of European banks.
(C) are now showing the same signs that have been shown since 2008.
(D) are now more concerned with the European bank situation than they have been for a couple of years.
(E) have reached their bottom line as far as the health of European banks is concerned.
R E S P O S T A : D |
• A última sentença do texto implica que os investidores...
(A) have been very distressed with European banks since 2008.• estão muito preocupados com os bancos europeus desde 2008.
(B) may even lose their health due to the difficult situation of European banks.
• podem até perder a saúde devido à difícil situação dos bancos europeus.
(C) are now showing the same signs that have been shown since 2008.
(C) are now showing the same signs that have been shown since 2008.
• estão agora apresentando os mesmos sinais que têm mostrado desde 2008.
(D) are now more concerned with the European bank situation than they have been for a couple of years.
(D) are now more concerned with the European bank situation than they have been for a couple of years.
• estão agora mais preocupados com a situação dos bancos europeus do que há alguns anos.
• Informação (D) de acordo com última sentença:
• "[...] The bottom line: Indicators of investor nervousness about the health of European banks are near or above their highest levels since 2008.
• Conclusão: os indicadores de nervosismo dos investidores quanto à saúde dos bancos europeus estão próximos ou acima de seus níveis mais altos desde 2008.
(E) have reached their bottom line as far as the health of European banks is concerned.
• atingiram os seus resultados financeiros no que diz respeito à saúde dos bancos europeus.
For much of the last century inflation was as prominent a
feature of Brazilian life as football. It was finally tamed, first by the
Real Plan of 1994 involving a new currency and fiscal measures,
and then from 1999 by requiring the Central Bank, which was
granted operational independence, to set interest rates to meet
an inflation target. Since 2005 that target has been 4.5%, plus
or minus two percentage points. So the Central Bank surprised
everyone in August when it cut its benchmark rate by half a point
(to 12%) even though inflation was then at 6.9%. On October 19th,
the bank did the same again. So is the government of President
Dilma Rousseff, in office since January, giving priority to other
goals, such as sustaining growth and preventing the overvaluation
of the currency, rather than keeping inflation low? And has the
Central Bank lost its independence?
2
No, say officials, who cite two sets of reasons for the rate cuts. First, having overheated last year, the economy stalled in the third quarter, partly as a result of earlier interest-rate rises and modest fiscal tightening. The consensus forecast is for GDP to expand by only 3.3% this year. Second, the bank argues that inflation was boosted by one-off factors, such as big rises in municipal bus fares and a shortage of ethanol. In the minutes of its August meeting, the bank’s monetary-policy committee stated that the deteriorating outlook for the world economy and falling commodity prices would put downward pressure on prices in Brazil, allowing inflation to reach the 4.5% target in the course of next year.
3
There are indeed signs that inflation is starting to fall. But the government’s critics argue that by starting to cut so early and so aggressively, while inflation is still almost three points above the target, the bank has damaged its hard-won credibility. As a result, inflation expectations for the years ahead are rising. The minimum wage is due to rise by 14% or so in January and unemployment remains low. The biggest problem is that some prices and wages are indexed to last year’s inflation, a hangover from the past.
4
The bank may yet be vindicated by outside events and turn out to have provided Brazil with a soft landing. As inflation falls, expectations will quickly follow, says Nelson Barbosa, the deputy finance minister. Certainly lower interest rates would help the country. Among the reasons why they are so high—including government borrowing, taxes on credit, and lack of competition in banking—the most powerful may be sheer inertia.
5
In a vicious circle, high rates depress investment, add to the government’s borrowing costs (which total some 5% of GDP) and thus its fiscal deficit (of over 2% of GDP). They also attract hot money from abroad, which has helped to make the real uncomfortably strong, hurting exporters. “We are in a bad equilibrium,” says Mr Barbosa. “We can live with this exchange rate with a lower interest rate, but not with this interest rate. One of them has to go.”
6
The government wants the real interest rate to fall to 2%-3%, but Mr Barbosa insists this is not a formal target. If inflation rises, the bank will hike rates again, he says. Some other central banks, including America’s Federal Reserve, have a mandate to pursue both growth and low inflation. But when it comes to inflation, Brazil is a recovering alcoholic. It needs its Central Bank to keep it on the straight and narrow.
The first paragraph of the text
• TEXTO 2: Leia o texto a seguir e responda às questões de números 83 a 90.
Blurring the mandate
Is the Central Bank targeting growth?
Is the Central Bank targeting growth?
Oct 29th 2011 | BRASÍLIA
1
2
No, say officials, who cite two sets of reasons for the rate cuts. First, having overheated last year, the economy stalled in the third quarter, partly as a result of earlier interest-rate rises and modest fiscal tightening. The consensus forecast is for GDP to expand by only 3.3% this year. Second, the bank argues that inflation was boosted by one-off factors, such as big rises in municipal bus fares and a shortage of ethanol. In the minutes of its August meeting, the bank’s monetary-policy committee stated that the deteriorating outlook for the world economy and falling commodity prices would put downward pressure on prices in Brazil, allowing inflation to reach the 4.5% target in the course of next year.
3
There are indeed signs that inflation is starting to fall. But the government’s critics argue that by starting to cut so early and so aggressively, while inflation is still almost three points above the target, the bank has damaged its hard-won credibility. As a result, inflation expectations for the years ahead are rising. The minimum wage is due to rise by 14% or so in January and unemployment remains low. The biggest problem is that some prices and wages are indexed to last year’s inflation, a hangover from the past.
4
The bank may yet be vindicated by outside events and turn out to have provided Brazil with a soft landing. As inflation falls, expectations will quickly follow, says Nelson Barbosa, the deputy finance minister. Certainly lower interest rates would help the country. Among the reasons why they are so high—including government borrowing, taxes on credit, and lack of competition in banking—the most powerful may be sheer inertia.
5
In a vicious circle, high rates depress investment, add to the government’s borrowing costs (which total some 5% of GDP) and thus its fiscal deficit (of over 2% of GDP). They also attract hot money from abroad, which has helped to make the real uncomfortably strong, hurting exporters. “We are in a bad equilibrium,” says Mr Barbosa. “We can live with this exchange rate with a lower interest rate, but not with this interest rate. One of them has to go.”
6
The government wants the real interest rate to fall to 2%-3%, but Mr Barbosa insists this is not a formal target. If inflation rises, the bank will hike rates again, he says. Some other central banks, including America’s Federal Reserve, have a mandate to pursue both growth and low inflation. But when it comes to inflation, Brazil is a recovering alcoholic. It needs its Central Bank to keep it on the straight and narrow.
(www.economist.com/node/21534796. Adapted)
08 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
(A) shows that the main goal of the present Brazilian administration is to curb inflation as never really done before 1994.
(B) questions whether the Brazilian Central Bank is being directly controlled by the Rousseff administration.
(C) implies that Brazilian inflation began to be controlled only in the 21st century.
(D) says that the cut of the Central Bank’s benchmark rate in August had been expected since the beginning of the Rousseff administration.
(E) states that the benchmark rate was cut by half a point in order to adjust inflation, which had reached 6.9% in August.
R E S P O S T A : B |
• O 1º parágrafo do texto...
(A) shows that the main goal of the present Brazilian administration is to curb inflation as never really done before 1994.• mostra que o principal objetivo do atual governo brasileiro é conter a inflação como nunca havia feito antes de 1994.
(B) questions whether the Brazilian Central Bank is being directly controlled by the Rousseff administration.
• questiona se o Banco Central do Brasil está sendo controlado diretamente pelo governo Dilma.
• Informação (B) de acordo com o trecho:
• "[...] And has the Central Bank lost its independence?"
• E o Banco Central perdeu sua independência?
(C) implies that Brazilian inflation began to be controlled only in the 21st century.• implica que a inflação brasileira começou a ser controlada apenas no século XXI.
(D) says that the cut of the Central Bank’s benchmark rate in August had been expected since the beginning of the Rousseff administration.
(D) says that the cut of the Central Bank’s benchmark rate in August had been expected since the beginning of the Rousseff administration.
• diz que o corte da taxa básica do Banco Central em agosto era esperado desde o início do governo Dilma.
(E) states that the benchmark rate was cut by half a point in order to adjust inflation, which had reached 6.9% in August.
(E) states that the benchmark rate was cut by half a point in order to adjust inflation, which had reached 6.9% in August.
• afirma que a taxa básica de juros foi cortada em meio ponto para ajustar a inflação, que havia atingido 6,9% em agosto.
09 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
De acordo com o texto, o Banco Central do Brasil
(A) afirma que o aumento do álcool combustível elevou a tarifa dos ônibus municipais.
(B) cortou as taxas de juros para tentar melhorar as previsões do crescimento do PIB para 2011, que é de 3,3%.
(C) prevê que a inflação em 2012 estará dentro da meta estabelecida em 2005.
(D) ordenou ao COPOM (Comitê de Política Monetária) que reduzisse a pressão dos preços na economia.
(E) tenta controlar o preço das commodities brasileiras por meio das taxas de juros estabelecidas pelo COPOM.
R E S P O S T A : C |
• De acordo com o texto, o Banco Central do Brasil
(A) afirma que o aumento do álcool combustível elevou a tarifa dos ônibus municipais.(B) cortou as taxas de juros para tentar melhorar as previsões do crescimento do PIB para 2011, que é de 3,3%.
(C) prevê que a inflação em 2012 estará dentro da meta estabelecida em 2005.
• Informação (C) de acordo com o trecho:
• "[...] In the minutes of its August meeting, the bank’s monetary-policy committee stated that the deteriorating outlook for the world economy and falling commodity prices would put downward pressure on prices in Brazil, allowing inflation to reach the 4.5% target in the course of next year."
• Na ata de sua reunião de agosto, o comitê de política monetária do banco afirmou que a deterioração do cenário para a economia mundial e a queda dos preços das commodities pressionariam os preços no Brasil, permitindo que a inflação atingisse a meta de 4,5% ao longo do próximo ano.
(D) ordenou ao COPOM (Comitê de Política Monetária) que reduzisse a pressão dos preços na economia.(E) tenta controlar o preço das commodities brasileiras por meio das taxas de juros estabelecidas pelo COPOM.
10 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
(A) o Brasil conviveu com o problema da inflação ao longo de quase todo o século XX.
(B) as medidas fiscais implantadas pelo Plano Real acabaram sendo bastante modestas.
(C) o governo de Dilma Rousseff estabeleceu a meta inflacionária de 4,5%, aceitando pequenas variações.
(D) as perspectivas da economia mundial estão sendo analisadas pelo COPOM desde agosto passado, a pedido do
governo de Dilma Rousseff.
(E) há um consenso de que o PIB de 2011 não aumentará mais de 3,3% neste ano devido ao aumento da inflação.
(E) há um consenso de que o PIB de 2011 não aumentará mais de 3,3% neste ano devido ao aumento da inflação.
R E S P O S T A : A |
• Segundo os dois parágrafos iniciais do texto,
(A) o Brasil conviveu com o problema da inflação ao longo de quase todo o século XX.
• Informação (A) de acordo com o trecho:
• "[...] For much of the last century inflation was as prominent a feature of Brazilian life as football."
• Durante grande parte do século passado, a inflação foi uma característica tão proeminente da vida brasileira quanto o futebol.
(B) as medidas fiscais implantadas pelo Plano Real acabaram sendo bastante modestas.
(C) o governo de Dilma Rousseff estabeleceu a meta inflacionária de 4,5%, aceitando pequenas variações.
(C) o governo de Dilma Rousseff estabeleceu a meta inflacionária de 4,5%, aceitando pequenas variações.
(D) as perspectivas da economia mundial estão sendo analisadas pelo COPOM desde agosto passado, a pedido do governo de Dilma Rousseff.
(E) há um consenso de que o PIB de 2011 não aumentará mais de 3,3% neste ano devido ao aumento da inflação.
(E) há um consenso de que o PIB de 2011 não aumentará mais de 3,3% neste ano devido ao aumento da inflação.
11 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
(A) the Central Bank may eventually prove to be right.
(B) interest rates will drop due to government borrowing.
(C) inflation will fall quickly after next year is over.
(D) the finance minister must be right in the measures taken.
(E) the Central Bank will take a revenge on other countries.
(E) the Central Bank will take a revenge on other countries.
R E S P O S T A : A |
• O 4º parágrafo mostra que o autor do artigo acredita que...
(A) the Central Bank may eventually prove to be right.
• o Banco Central pode acabar tendo razão.
(B) interest rates will drop due to government borrowing.
(B) interest rates will drop due to government borrowing.
• as taxas de juros vão cair devido aos empréstimos do governo.
(C) inflation will fall quickly after next year is over.
(C) inflation will fall quickly after next year is over.
• a inflação cairá rapidamente após o fim do ano que vem.
(D) the finance minister must be right in the measures taken.
• o ministro da Fazenda deve estar certo nas medidas tomadas.
(E) the Central Bank will take a revenge on other countries.
(E) the Central Bank will take a revenge on other countries.
• o Banco Central vai se vingar de outros países.
12 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
– and wages are indexed to last year’s inflation, a hangover
from the past –
está relacionada à comparação utilizada em
(A) For much of the last century inflation was as prominent a feature of Brazilian life as football.
(B) On October 19th, the bank did the same again.
(B) On October 19th, the bank did the same again.
(C) But when it comes to inflation, Brazil is a recovering alcoholic.
(D) In a vicious circle, high rates depress investment...
(E) “We are in a bad equilibrium,” says Mr Barbosa.
(D) In a vicious circle, high rates depress investment...
(E) “We are in a bad equilibrium,” says Mr Barbosa.
R E S P O S T A : C |
• A comparação indicada pelo fragmento do terceiro parágrafo – and wages are indexed to last year’s inflation, a hangover from the past – está relacionada à comparação utilizada em ...
• Durante grande parte do século passado, a inflação foi uma característica tão proeminente da vida brasileira quanto o futebol.
(B) On October 19th, the bank did the same again.
(B) On October 19th, the bank did the same again.
• Em 19 de outubro, o banco fez o mesmo novamente.
(C) But when it comes to inflation, Brazil is a recovering
alcoholic.
• Mas quando se trata de inflação, o Brasil é um alcoólatra em recuperação.
• Informação (C) de acordo com o trecho:
• "and wages are indexed to last year’s inflation, a hangover from the past"
• e os salários são indexados à inflação do ano passado, uma ressaca do passado.
(D) In a vicious circle, high rates depress investment...• Em um círculo vicioso, altas taxas deprimem o investimento.
(E) “We are in a bad equilibrium,” says Mr Barbosa.
(E) “We are in a bad equilibrium,” says Mr Barbosa.
• “Estamos em um equilíbrio ruim”, diz Barbosa.
13 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
(A) no preço das commodities, que caiu muito recentemente.
(B) na pouca autonomia do Banco Central.
(C) na imobilidade dos bancos comerciais.
(D) na prática da indexação dos preços e salários.
(E) na falta de iniciativa para solucionar a questão.
R E S P O S T A : E |
• O autor do artigo acredita que a principal razão por que as taxas de juros brasileiras são tão altas talvez esteja ...
(A) no preço das commodities, que caiu muito recentemente.(B) na pouca autonomia do Banco Central.
(C) na imobilidade dos bancos comerciais.
(D) na prática da indexação dos preços e salários.
(E) na falta de iniciativa para solucionar a questão.
• Informação (E) de acordo com o trecho (4º parágrafo):
• "[...] Certainly lower interest rates would help the country. Among the reasons why they are so high - including government borrowing, taxes on credit, and lack of competition in banking - the most powerful may be sheer inertia."
• Certamente, taxas de juros mais baixas ajudariam o país. Entre os motivos pelos quais elas são tão altos - incluindo empréstimos do governo, impostos sobre crédito e falta de competição no setor bancário - o mais poderoso pode ser a pura inércia.
14 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
– One of them has to go. –
a
palavra them refere-se a
(A) empréstimos públicos e impostos sobre o crédito.
(B) queda da inflação e do desemprego.
(C) indexação de salários e de preços.
(D) taxa de câmbio e taxa de juros atuais.
(E) alta do Real e prejuízo dos exportadores.
(B) queda da inflação e do desemprego.
(C) indexação de salários e de preços.
(D) taxa de câmbio e taxa de juros atuais.
(E) alta do Real e prejuízo dos exportadores.
R E S P O S T A : D |
• Sentença completa:
• “[...] We can live with this exchange rate with a lower interest rate, but not with this interest rate. One of them has to go.”
• “Podemos conviver com a taxa de câmbio atual com uma taxa de juros menor, mas não com a taxa de juros atual. Uma delas tem que ir. ”
• "them" refere-se "this exchange rate" e "this interest rate".
15 – (FGV-2011/2012-EESP-VESTIBULAR-1º SEMESTRE)
(A) as expectativas comerciais do Brasil devem melhorar, com a queda da inflação.
(B) o Banco Central aumentará as taxas de juros se a inflação subir.
(C) as taxas de juros são consequência, entre outras, da falta de competição.
(D) o governo tem a meta específica de reduzir as taxas de juros.
(E) o Banco Central brasileiro deveria seguir o mesmo procedimento do Federal Reserve.
R E S P O S T A : B |
• Segundo a opinião do secretário-executivo do Ministério da Fazenda, Nelson Barbosa, citada no último parágrafo,
(A) as expectativas comerciais do Brasil devem melhorar, com a queda da inflação.(B) o Banco Central aumentará as taxas de juros se a inflação subir.
• Informação (B) de acordo com o trecho:
• "[...] The government wants the real interest rate to fall to 2%-3%, but Mr Barbosa insists this is not a formal target. If inflation rises, the bank will hike rates again, he says."
• O governo quer que a taxa de juros real caia para 2% -3%, mas Barbosa insiste que essa não é uma meta formal. Se a inflação aumentar, o banco aumentará as taxas novamente, diz ele.
(C) as taxas de juros são consequência, entre outras, da falta de competição.
(D) o governo tem a meta específica de reduzir as taxas de juros.
(E) o Banco Central brasileiro deveria seguir o mesmo procedimento do Federal Reserve.
(D) o governo tem a meta específica de reduzir as taxas de juros.
(E) o Banco Central brasileiro deveria seguir o mesmo procedimento do Federal Reserve.
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