full transcript

From the Ted Talk by Jonathan Smith: How do governments create money out of thin air?

Unscramble the Blue Letters


In March 2020, the COVID-19 pandemic rocked eneicomos worldwide. Millions of people lost their jobs, and many beisussens srgtelugd to survive or shut down completely. Governments responded with some of the largest economic relief packages in history— the uinted settas alone spent $2.2 trillion on a first round of relief. So where did all this money come from?

Most cntoriues have a central bank that manages the money supply and is independent from the government to prevent political incnrefretee. The government can implement many types of economic policy, like decreasing people's taxes and creating jobs through pubilc infrastructure projects, but it actually can’t just increase the money supply. The central bank determines how much menoy is in circulation at a time.

Open Cloze


In March 2020, the COVID-19 pandemic rocked _________ worldwide. Millions of people lost their jobs, and many __________ _________ to survive or shut down completely. Governments responded with some of the largest economic relief packages in history— the ______ ______ alone spent $2.2 trillion on a first round of relief. So where did all this money come from?

Most _________ have a central bank that manages the money supply and is independent from the government to prevent political ____________. The government can implement many types of economic policy, like decreasing people's taxes and creating jobs through ______ infrastructure projects, but it actually can’t just increase the money supply. The central bank determines how much _____ is in circulation at a time.

Solution


  1. interference
  2. countries
  3. united
  4. states
  5. money
  6. public
  7. struggled
  8. economies
  9. businesses

Original Text


In March 2020, the COVID-19 pandemic rocked economies worldwide. Millions of people lost their jobs, and many businesses struggled to survive or shut down completely. Governments responded with some of the largest economic relief packages in history— the United States alone spent $2.2 trillion on a first round of relief. So where did all this money come from?

Most countries have a central bank that manages the money supply and is independent from the government to prevent political interference. The government can implement many types of economic policy, like decreasing people's taxes and creating jobs through public infrastructure projects, but it actually can’t just increase the money supply. The central bank determines how much money is in circulation at a time.

Frequently Occurring Word Combinations


ngrams of length 2

collocation frequency
central bank 7
money supply 2
central banks 2
quantitative easing 2
federal reserve 2
buy unlimited 2
government debt 2


Important Words


  1. bank
  2. businesses
  3. central
  4. circulation
  5. completely
  6. countries
  7. creating
  8. decreasing
  9. determines
  10. economic
  11. economies
  12. government
  13. governments
  14. implement
  15. increase
  16. independent
  17. infrastructure
  18. interference
  19. jobs
  20. largest
  21. lost
  22. manages
  23. march
  24. millions
  25. money
  26. packages
  27. pandemic
  28. people
  29. policy
  30. political
  31. prevent
  32. projects
  33. public
  34. relief
  35. responded
  36. rocked
  37. shut
  38. spent
  39. states
  40. struggled
  41. supply
  42. survive
  43. taxes
  44. time
  45. trillion
  46. types
  47. united
  48. worldwide