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❑ 
PROVA DE LÍNGUA INGLESA:
PROVA DE LÍNGUA INGLESA:• FGV/VESTIBULAR-2017.1-PROCESSO SELETIVO-1º SEMESTRE-GRADUAÇÃO EM ECONOMIA-SP.
❑ ESTRUTURA-PROVA:
• 15 MCQs (Multiple Choice Question) / 5 Options Each Question.
- Text (1) – | Patience is needed for Brazil to come good again | www.ft.com |
- Text (2) – | Economists Reduce Outlook for Brazil Inflation – Survey | www.nasdaq.com |
PROVA, TRADUÇÃO, GABARITO & MUITO VOCABULÁRIO
❑ TEXTO 1: Leia o texto para responder às questões de números 01 a 13.
Patience is needed for Brazil to come good again
Michael Hasenstab
Dr. Michael Hasenstab is executive
vice-president, portfolio manager and
chief investment officer of
Templeton Global Macro
Dr. Michael Hasenstab is executive
vice-president, portfolio manager and
chief investment officer of
Templeton Global Macro
1 The Olympic Games in Rio drew global interest to
Brazil, but the country and the rest of South America has
been in sharp focus for investors all year. They have
flocked to the region as part of a broader migration into
emerging market debt, following record low valuations
and the hunt for yield in a low interest rate environment.
While investors have been presented with a rarely seen
buying opportunity in emerging markets like South
America, it is a mistake to regard these countries as a
homogenous group.
2 That leaves the challenge of working out which are the most attractive opportunities – some of our best known investments were not obvious choices.
3 We have devised a formula to help us evaluate the fundamental strength of different emerging market countries. It scores a country’s current and projected strength on five factors: how well it has learnt the lessons from past crises; the quality of its policy mix; the structural reform being undertaken to boost productivity; the level of domestic demand; and its ability to resist external shocks. The aim is to pick nations that are fundamentally strong but, for one reason or another, are out of favour with investors. It can take time for the market to catch up to reality. But if you are a long-term investor – and we are certainly in that camp – you have the luxury of being able to wait.
4 Brazil, for example, is known as a vulnerable market due to the commodities downturn, the ongoing corruption crisis and ensuing political turmoil, but our work suggests to us that it is poised for a potentially significant rebound in the long term. Its current score is low, but its projected future score tells a different story.
5 We believe the country has learnt the lessons from the most recent crisis, which brought home the importance of having a sustainable fiscal policy. It has already adopted a flexible exchange rate, has strong foreign exchange reserves and has limited short-term debt. This is also reflected in the country’s improving resilience to external shocks, with a reliance on commodities, at 60 per cent of exports, being the largest remaining negative.
6 It is perhaps no surprise, given Brazil’s deep recession and political instability, that there is much work required in terms of improving policy mix, making structural reforms and boosting domestic demand. However, there are signs things are being turned around, with monetary policy already being tightened aggressively to bring inflation expectations back under control, and the previously excessive levels of government subsidised lending being cut. Once political stability returns, the government will be empowered to do even more.
7 Work on structural reform should accelerate too, as Brazil’s middle class has made it clear it wants greater transparency and an economic policy framework that can both boost living standards and improve the environment for businesses.
(www.ft.com. 01.09.2016. Adaptado)
76 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
The title Patience is needed for Brazil to come good again
reflects the idea presented in the text, that the country
a) should be ruled out as an investment option.
b) has bleak prospects in the long run.
c) is going down the hill at the moment.
d) is a bet to be considered for long-term investors.
e) has to be included in the investors’ portfolio for immediate returns.
b) has bleak prospects in the long run.
c) is going down the hill at the moment.
d) is a bet to be considered for long-term investors.
e) has to be included in the investors’ portfolio for immediate returns.
👍 Comentários e Gabarito D
*
*
*
*Alternativa (D): é uma aposta a ser considerada para investidores de longo prazo.
*
➦THE TITLE(dêTáirol): Patience is needed for Brazil to come good again(É preciso paciência para o Brasil voltar a ficar bom)
➦ IDEIA CONTEXTUAL: O título reflete a ideia de que o país é uma aposta a ser considerada para investidores de longo prazo.
77 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
According to the first paragraph, one of the reasons why
investors are interested in South America is
a) its commodity valuation.
b) that the Olympic games took place in Rio.
c) that there is a hunt for yield due to low interest rates.
d) the forecast of the continent’s market as a whole.
e) the continent’s migration into new markets.
👍 Comentários e Gabarito C
TÓPICO - IDEIA CONTEXTUAL ou INFORMAÇÃO DENTRO DO TEXTO :
De acordo com o primeiro parágrafo, uma das razões pelas quais os investidores estão interessados na América do Sul é
*Alternativa (A): sua avaliação de mercadorias.
*Alternativa (B): que os Jogos Olímpicos ocorreram no Rio.
*Alternativa (C): que há uma busca por rendimento devido às baixas taxas de juros.
*Alternativa (D): a previsão do mercado do continente como um todo.
*Alternativa (D): a migração do continente para novos mercados.
b) that the Olympic games took place in Rio.
c) that there is a hunt for yield due to low interest rates.
d) the forecast of the continent’s market as a whole.
e) the continent’s migration into new markets.
👍 Comentários e Gabarito C
De acordo com o primeiro parágrafo, uma das razões pelas quais os investidores estão interessados na América do Sul é
*
*
*Alternativa (C): que há uma busca por rendimento devido às baixas taxas de juros.
*
*
78 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
In the excerpt of the first paragraph
- “While investors have been presented with a rarely seen buying opportunity in emerging markets like South America, it is a mistake to regard these countries as a homogenous group”, the word in bold can be correctly replaced by
a) Although.
b) Whenever.
c) Likewise.
d) Unless.
e) Therefore.
b) Whenever.
c) Likewise.
d) Unless.
e) Therefore.
👍 Comentários e Gabarito A
*Alternativa (A): Although.
*
*
*
*
➦IDEIA CONTEXTUAL: While ➝ Although.
“While investors have been presented with a rarely seen buying opportunity in emerging markets like South America, it is a mistake to regard these countries as a homogenous group”,
79 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
In the excerpt of the second paragraph- “That leaves the challenge of working out which are the most attractive opportunities”, the word in bold refers to the idea that
a) there are rarely seen buying opportunities.
b) interest rates are extremely low.
c) there is fear of a broad migration.
d) South American countries are not all the same.
e) Brazilian Market stands out in South America.
b) interest rates are extremely low.
c) there is fear of a broad migration.
d) South American countries are not all the same.
e) Brazilian Market stands out in South America.
👍 Comentários e Gabarito D
No trecho do segundo parágrafo “Isso deixa o desafio de descobrir quais são as oportunidades mais atraentes”, a palavra em negrito se refere à idéia de que
*
*
*
*Alternativa (D): Os países da América do Sul não são todos iguais.
*
80 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
The formula mentioned in the third paragraph
a) should devise at least five items that have to predict
the market future.
b) is based on the existing strength of the emerging markets.
c) establishes how domestic demand is able to resist external shocks.
d) predicts future behaviour from past crises.
e) helps to grade emerging market countries strength.
b) is based on the existing strength of the emerging markets.
c) establishes how domestic demand is able to resist external shocks.
d) predicts future behaviour from past crises.
e) helps to grade emerging market countries strength.
👍 Comentários e Gabarito E
A fórmula mencionada no terceiro parágrafo
*
*
*
*
*Alternativa (E): ajuda a avaliar a força dos países emergentes.
81 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
According to the third paragraph, the objective of the
formula is to
a) identify the reasons why investors favour a certain
market.
b) spot a still unfamiliar strong market to invest in the long run.
c) rank all nations in terms of future reliability.
d) recommend good options to invest without waiting too long.
e) find investors for emerging strong countries.
👍 Comentários e Gabarito B
TÓPICO - IDEIA CONTEXTUAL ou INFORMAÇÃO DENTRO DO TEXTO :
De acordo com o terceiro parágrafo, o objetivo da fórmula é
*Alternativa (A): identifique as razões pelas quais os investidores favorecem um determinado mercado.
*Alternativa (B): identificar um mercado forte ainda desconhecido para investir no longo prazo.
*Alternativa (C): classifique todas as nações em termos de confiabilidade futura.
*Alternativa (D): recomendar boas opções para investir sem esperar demais.
*Alternativa (E): encontrar investidores para países fortes emergentes.
b) spot a still unfamiliar strong market to invest in the long run.
c) rank all nations in terms of future reliability.
d) recommend good options to invest without waiting too long.
e) find investors for emerging strong countries.
👍 Comentários e Gabarito B
De acordo com o terceiro parágrafo, o objetivo da fórmula é
*
*Alternativa (B): identificar um mercado forte ainda desconhecido para investir no longo prazo.
*
*
*
82 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
In the excerpt of the third paragraph- “We have devised a formula to help us evaluate the fundamental strength”, the word in bold refers to
a) investors.
b) marketing specialists.
c) the article’s author.
d) emerging market investors.
e) the Templeton Global Macro team.
👍 Comentários e Gabarito E
TÓPICO - IDEIA CONTEXTUAL ou INFORMAÇÃO DENTRO DO TEXTO :
No trecho do terceiro parágrafo “Criamos uma fórmula para nos ajudar a avaliar a força fundamental”, a palavra em negrito se refere a
*Alternativa (A): investidores.
*Alternativa (B): especialistas em marketing.
*Alternativa (C): o autor do artigo.
*Alternativa (D): investidores em mercados emergentes.
*Alternativa (E): a equipe de Macro Global da Templeton.
b) marketing specialists.
c) the article’s author.
d) emerging market investors.
e) the Templeton Global Macro team.
👍 Comentários e Gabarito E
No trecho do terceiro parágrafo “Criamos uma fórmula para nos ajudar a avaliar a força fundamental”, a palavra em negrito se refere a
*
*
*
*
*Alternativa (E): a equipe de Macro Global da Templeton.
83 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
In the excerpt of the fourth paragraph- “Brazil, for example, is known as a vulnerable market due to the commodities downturn”, the expression in bold introduces a
a) contrast.
b) probability.
c) rank.
d) cause.
e) consequence.
b) probability.
c) rank.
d) cause.
e) consequence.
👍 Comentários e Gabarito D
No trecho do quarto parágrafo “O Brasil, por exemplo, é conhecido como um mercado vulnerável devido à desaceleração das commodities”, a expressão em negrito introduz uma
*
*
*
*Alternativa (D): cause(causa).
*
➦IDEIA CONTEXTUAL: "due to" transmite ideia de ➝ cause(causa)
"Brazil, for example, is known as a vulnerable market due to the commodities downturn,"
(O Brasil, por exemplo, é conhecido como um mercado vulnerável devido à desaceleração das commodities)
84 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
Based on the fourth paragraph, the fifth paragraph
presents Brazil asa) a dominant market because its score is low.
b) a country on the way of future recovery.
c) too dependent on commodity production.
d) an immediate solid investment option.
e) a politically unstable country.
b) a country on the way of future recovery.
c) too dependent on commodity production.
d) an immediate solid investment option.
e) a politically unstable country.
👍 Comentários e Gabarito B
Com base no quarto parágrafo, o quinto parágrafo apresenta o Brasil como
*
*Alternativa (B): um país a caminho da recuperação futura.
*
*
*
85 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
In the sixth paragraph, the text indicates Brazil shoulda) turn things around.
b) tighten monetary policy.
c) stop creating surprises.
d) cut excessive lending.
e) increase domestic demand.
b) tighten monetary policy.
c) stop creating surprises.
d) cut excessive lending.
e) increase domestic demand.
👍 Comentários e Gabarito E
No sexto parágrafo, o texto indica que o Brasil deveria
*
*
*
*
*Alternativa (E): aumentar a demanda doméstica.
86 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
In the excerpt of the sixth paragraph- "However, there are signs things are being turned around” the word in bold can be replaced, without meaning change, by
a) Nevertheless.
b) Inasmuch.
c) Unless.
d) Furthermore.
e) Throughout.
👍 Comentários e Gabarito A
TÓPICO - IDEIA CONTEXTUAL ou INFORMAÇÃO DENTRO DO TEXTO :
No trecho do sexto parágrafo "No entanto, há sinais de que as coisas estão sendo revertidas", a palavra em negrito pode ser substituída, sem alterar o significado, por
*Alternativa (A): No entanto.
*Alternativa (B): Na medida em que.
*Alternativa (C): a menos que.
*Alternativa (D): Além disso.
*Alternativa (E): Durante todo.
b) Inasmuch.
c) Unless.
d) Furthermore.
e) Throughout.
👍 Comentários e Gabarito A
No trecho do sexto parágrafo "No entanto, há sinais de que as coisas estão sendo revertidas", a palavra em negrito pode ser substituída, sem alterar o significado, por
*Alternativa (A): No entanto.
*
*
*
*
87 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
In the excerpt of the sixth paragraph- "Once political stability returns, the government will be empowered to do even more”, the word in bold expresses an idea of
a) uniqueness.
b) consequence.
c) condition.
d) substitution.
e) purpose.
👍 Comentários e Gabarito C
TÓPICO - IDEIA CONTEXTUAL ou INFORMAÇÃO DENTRO DO TEXTO :
No excerto do sexto parágrafo "Quando a estabilidade política voltar, o governo terá poderes para fazer ainda mais", a palavra em negrito expressa uma idéia de
*Alternativa (A): singularidade.
*Alternativa (B): consequência.
*Alternativa (C): condição.
*Alternativa (D): substituição.
*Alternativa (E): finalidade.
b) consequence.
c) condition.
d) substitution.
e) purpose.
👍 Comentários e Gabarito C
No excerto do sexto parágrafo "Quando a estabilidade política voltar, o governo terá poderes para fazer ainda mais", a palavra em negrito expressa uma idéia de
*
*
*Alternativa (C): condição.
*
*
88 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
In the excerpt of the seventh paragraph- “Work on structural reform should accelerate too”, the word in bold can be replaced, without meaning change, by
a) used to.
b) ought to.
c) had to.
d) might.
e) would.
b) ought to.
c) had to.
d) might.
e) would.
👍 Comentários e Gabarito B
*
*Alternativa (B): ought to.
*
*
*
➦"Should" e "ought to" possuem basicamente o mesmo sentido, sendo "ought to" mais formal. Ambos expressam conselho, obrigação, dever, probabilidade e a lembrança de um dever no presente e no futuro.
➧ TEXTO 2: Leia o texto para responder às questões de números 14 e
15.
Economists reduced their inflation estimate in Brazil for this year and next year, according to the central bank’s weekly survey of 100 economists published Monday. Economists now expect inflation, as measured by the consumer-price index, to be 7.25% this year, compared with last week’s estimate of 7.34%, the survey showed.
Economists estimate Brazil’s gross domestic product
is likely to contract 3.14% this year, compared with an expected contraction of 3.15% in last week’s survey. Last year, Brazil’s economy contracted 3.80%, according to the country’s statistical bureau, IBGE. For 2017, economists reduced their view of GDP growth to 1.30% from 1.36%.
89 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
Economists Reduce Outlook for Brazil Inflation – Survey
By Rogerio Jelmayer – Dow Jones
Business News
Shutterstock photo
Economists estimate Brazil’s gross domestic product
is likely to contract 3.14% this year, compared with an expected contraction of 3.15% in last week’s survey. Last year, Brazil’s economy contracted 3.80%, according to the country’s statistical bureau, IBGE. For 2017, economists reduced their view of GDP growth to 1.30% from 1.36%.
(www.nasdaq.com. 26.06.2016. Adaptado)
In the title of the text, the word “outlook” means
a) prospect.
b) opinion.
c) quality.
d) nature.
e) aspect
b) opinion.
c) quality.
d) nature.
e) aspect
👍 Comentários e Gabarito A
*Alternativa (A): prospect.
*
*
*
*
- "OUTLOOK" – THE PROSPECT FOR THE FUTURE, THE LIKELY FUTURE SITUATION, EXPECTATION FOR THE FUTURE.
90 – (FGV/VESTIBULAR-2017.1-ECONOMIA-1º SEMESTRE)
The survey mentioned in the text
(A) was conducted by central bank’s economists.
(B) revealed that inflation estimate lowered for 2016.
(C) compared past established inflation rates.
(D) provided reliable data based on future expectations.
(E) demonstrated that gross domestic product in Brazil won’t improve.
(B) revealed that inflation estimate lowered for 2016.
(C) compared past established inflation rates.
(D) provided reliable data based on future expectations.
(E) demonstrated that gross domestic product in Brazil won’t improve.
👍 Comentários e Gabarito B
A pesquisa mencionada no texto
(A) was conducted by central bank’s economists.
(foi conduzida pelos economistas do banco central.)
➭ INCORRETA porque o autor afirma taxativamente que a pesquisa é feita semanalmente pelo Banco Central e não menciona que é conduzida pelos economistas do banco central, conforme trecho:
➭ "[...] Economists reduced their inflation estimate in Brazil for this year and next year, according to the central bank’s weekly survey of 100 economists published Monday."
➭ (Economistas reduziram sua estimativa de inflação no Brasil para este ano e para o próximo ano, de acordo com a pesquisa semanal do banco central de 100 economistas publicada na segunda-feira.)
(B) revealed that inflation estimate lowered for 2016.
(B) revealed that inflation estimate lowered for 2016.
(revelou que a estimativa de inflação ABAIXADA para 2016.)
➭ CORRETA porque a pesquisa foi realizada em 2016 e revela diminuição na estimativa de inflação no Brasil para o ano corrente e para o próximo ano, conforme o trecho:
➭ "[...] reduced their inflation estimate in Brazil for this year and next year,
➭ LOWED (= REDUCED) – DIMINUÍDA, ABAIXADA, REDUZIDA.
(C) compared past established inflation rates.
(C) compared past established inflation rates.
(comparou as taxas de inflação estabelecidas no passado.)
➭ INCORRETA. Afirmativa (C) extrapola informações do texto.
(D) provided reliable data based on future expectations.
(forneceu dados confiáveis com base nas expectativas futuras.)
➭ INCORRETA. Afirmativa (C) extrapola informações do texto.
(E) demonstrated that gross domestic product in Brazil won’t improve.
(demonstrou que o produto interno bruto no Brasil não vai melhorar.)
➭ INCORRETA. Economistas estimam que o produto interno bruto do Brasil deve contrair 3,14% em 2016, conforme trecho:
➭ "[...] Economists estimate Brazil’s gross domestic product is likely to contract 3.14% this year,".
➭ TO IMPROVE - MELHORAR do ponto qualitativo.
