Монетарна політика і її інструменти (курсова)

I?i?noa?noai ina?oe Oe?a?ie

Ee?anueeee iaoe?iiaeueiee aeiiii?/iee oi?aa?neoao

Eaoaae?a iie?oe/ii? aeiiii??

Eo?niaa ?iaioa

Oaia: «Iiiaoa?ia iie?oeea ? ?? ?ino?oiaioe»

Aeeiiaa:

Ia?aa??ea: Aeeaa I.?.

Ee?a — 1997

Oaia: «Iiiaoa?ia iie?oeoeea ? ?? ?ino?oiaioe»

Aeeiiaa: nooaeaio 1 eo?no,

niaoe. 0204, 2 a?oia

Ni?aaeia I.N.

Ia?aa??ea: Aeeaa I.?.

Ieai.

Anooi

Oe?e? oa ia(?eoe iiiaoa?ii? iie?oeee

Iaoiaee eiio?ieth oa ?ino?oiaioe iiiaoa?ii? iie?oeee.

Iniaeeaino? i?iaaaeaiiy iiiaoa?ii? iie?oeee ia no/aniiio aoai?

Caeeth/aiiy

Ci?no

TOC \t «CaaieiaieIie;1» Anooi GOTOBUTTON _Toc385348282 PAGEREF
_Toc385348282 5

Oe?e? oa ia’?eoe iiiaoa?ii? iie?oeee GOTOBUTTON _Toc385348283
PAGEREF _Toc385348283 7

Iaoiaee eiio?ieth oa ?ino?oiaioe iiiaoa?ii? iie?oeee GOTOBUTTON
_Toc385348284 PAGEREF _Toc385348284 13

Iniaeeaino? i?iaaaeaiiy iiiaoa?ii? iie?oeee ia no/aniiio aoai? ?icaeoeo
GOTOBUTTON _Toc385348285 PAGEREF _Toc385348285 20

Caeeth/aiiy GOTOBUTTON _Toc385348286 PAGEREF _Toc385348286 25

Aeei?enoaia eeoa?aoo?a GOTOBUTTON _Toc385348287 PAGEREF
_Toc385348287 27

Aeey iii?oie: GOTOBUTTON _Toc385348288 PAGEREF _Toc385348288 28

Anooi

Ia no/aniiio aoai? ?icaeoeo aaaaoi ye? aea?aeaae, oaeiae ? Oe?a?ia
oi?iothoue nai? aeani? iiaeae? aea?aeaaiiai ?aaoethaaiiy. Cie?aia a
Oe?a?i? oeae i?ioean oneeaaeith?oueny oei, ui aiia iiaeiia
ia?aaoaeiaoaaoe noa?? oi?iaoe?? eieeoiueiai N?N?. Aeoaea aaaeeeaei ?
aea?? ?ino?oiaio?a aea?aeaaiiai ?aaoethaaiiy, oiio ui naia a?i cia/ii
aieeaa? ia aeaiie?aoe/iee ono??e a noni?euenoa?. Iaeiei c ?ino?oiaio?a
aea?aeaaiiai ?aaoethaaiiy ? iiiaoa?ia iie?oeea. A?eueo?noue no/anieo
aeiiiiino?a ?icaeyaeathoue iiiaoa?io (e?aaeeoii-a?ioiao) iie?oeeo ye
iaea?eueo i?eeiyoiee aeey aeaiie?aoe/iiai noni?euenoaa ?ino?oiaio
aea?aeaaiiai ?aaoethaaiiy iaoe?iiaeueii? aeiiii?ee, ia i?ecaiaeyuee aei
iaaei??iiai aeeeoaoo o?yaeo ? ciaioaiith ainiiaea?nueei? naiino?eiino?
ie?aieo iiaeeaiaeooi?a. Iaeaeua e?ioeaaa oe?eue iiiaoa?ii? iie?oeee
iieyaa? a caaacia/aii? noaa?eueiino? oe?i, iiaii? caeiyoino? ? c?inoaii?
?aaeueiiai ianyao AII. Oey oe?eue aeinyaa?oueny ca aeiiiiiaith caoiae?a
a ?aieao a?ioiai-e?aaeeoii? iie?oeee, ui cae?eniththoueny aeineoue
iiaie?, ?ic?aoiaai? ia ?iee ? ia ? oaeaeeith ?aaeoe??th ia ci?ie
eii’thieoo?e. A ca’yceo c oeei iioi/ia iiiaoa?ia iie?oeea i?i?ioi?oaony
ia eiie?aoi? ? aeinooii? oe?e?, /ei cacia/aia aeua aeiaaeueia caaaeaiiy,
iai?eeeaae ia o?enaoe?th e?eueeino? a?ioae a ia?ao, iaaiiai ??aiy
aaie?anueeeo ?aca?a?a /e ii?ie ? o. i.

Iaeiae a oeueiio iaoeiaiio aeine?aeaeaii? aaoi? coieieoueny aeineoue
aeaoaeueii ia iaoiaeao eiio?ieth oa ?ino?oiaioao iiiaoa?ii? iie?oeee.
O?aaa neacaoe, ui naia oe? iaoiaee eiio?ieth cia/ii aieeaathoue ia oae?
iae?iaeiiii?/i? iieacieee, ye: noaa?euei?noue oe?i, caeiyo?noue, ianya
?aaeueiiai AII.

Eo?niaa ?iaioa ia? oaeo no?oeoo?o:

o ia?o?e aeaa? aaoi? ?iciia?aea? i?i oe?e? oa ia(?eoe iiiaoa?ii?
iie?oeee, i?i oa ia ui aiia aieeaa?;

o ae?oa?e aeaa? aaoi? aeaoaeueii ?icaeyaea? iaoiaee eiio?ieth oa
?ino?oiaioe iiiaoa?ii? iie?oeee. Naia oae?, ye: iia?aoe?? ia a?aee?eoiio
?eieo, ci?ia aaieianueei? iae?eiai? noaaee, a oaeiae ci?ia ii?ie
iaia(yceiaeo ?aca?a?a;

o o?ao?e aeaa? ?icaeyaeathoueny iniaeeaino? i?iaaaeaiiy iiiaoa?ii?
iie?oeee ia no/aniiio aoai?.

?c anueiai aeuaneacaiiai, iiaeia aeine?aeeoe, ui ia?aia aaoi?ii oaia ?
aeineoue aaaeeeaith oa ae??oaeueiith o i?ioean? oi?ioaaiiy iiaeae?
aea?aeaaiiai ?aaoethaaiiy Iacaeaaeii? Oe?a?ie.

Oe?e? oa ia’?eoe iiiaoa?ii? iie?oeee

A?eueo?noue no/anieo aeiiiiino?a ?icaeyaeathoue iiiaoa?io
(e?aaeeoii-a?ioiao) iie?oeeo ye iaea?eueo i?eeiyoiee aeey
aeaiie?aoe/iiai noni?euenoaa ?ino?oiaio aea?aeaaiiai ?aaoethaaiiy
iaoe?iiaeueii? aeiiii?ee, ia i?ecaiaeyuee aei iaaei??iiai aeeeoaoo
o?yaeo ? ciaioaiith ainiiaea?nueei? naiino?eiino? ie?aieo
iiaeeaiaeooi?a. Iaeaeua e?ioeaaa oe?eue iiiaoa?ii? iie?oeee iieyaa? a
caaacia/aii? noaa?eueiino? oe?i, iiaii? caeiyoino? ? c?inoaii?
?aaeueiiai ianyao AII. Oey oe?eue aeinyaa?oueny ca aeiiiiiaith caoiae?a
a ?aieao a?ioiai-e?aaeeoii? iie?oeee, ui cae?eniththoueny aeineoue
iiaie?, ?ic?aoiaai? ia ?iee ? ia ? oaeaeeith ?aaeoe??th ia ci?ie
eii’thieoo?e. A ca’yceo c oeei iioi/ia iiiaoa?ia iie?oeea i?i?ioi?oaony
ia eiie?aoi? ? aeinooii? oe?e?, /ei cacia/aia aeua aeiaaeueia caaaeaiiy,
iai?eeeaae ia o?enaoe?th e?eueeino? a?ioae a ia?ao, iaaiiai ??aiy
aaie?anueeeo ?aca?a?a /e ii?ie ? o. i.

A oiio ? ?ioiio aeiaaeeo i?ia?aeieeii iiiaoa?ii? iie?oeee ?
oeaio?aeueiee aaie e?a?ie, a ia’?eoaie ? i?iiiceoe?y ? iiieo ia
a?ioiaiio ?eieo. I?ae i?iiiceoe??th a?ioae ?icoi??oueny caaaeueia
e?euee?noue a?ioae, ui ciaoiaeeoueny a ia?ao. I?iiiceoe?y a?ioae
neeaaea?ony ?c M1, M2, M3.

Iiieo ia a?io?

Iiieo ia a?io? oi?io?oueny ?c iiieoo ia a?io? ye cania ia?ao (iia/a,
ae?eiaee, iia?aoe?eiee /e iiieo ia a?io? aeey oeeaaeaiiy oaiae) ? ye
can?a caa?aaeaiiy aa?oino? (iia/a, iiieo ia a?io? ye ia aeoeae, iiieo ia
caianio aa?o?noue /e niaeoeyoeaiee iiieo).

Iiieo ia a?io? ye can?a ia?ao aecia/a?oueny ??aiai a?ioiaiai /e
iiiiiaeueiiai AII (i?yii i?iii?oe?eii). *ei a?eueoa i?eaooie a
noni?euenoa?, /ei a?eueoa oeeaaea?oueny oaiae, /ei aeua ??aaiue oe?i,
oei a?eueoa aoaea iio??aii a?ioae aeey oeeaaeaiiy aeiiii?/ieo oaiae a
?aieao iaoe?iiaeueii? aeiiii?ee. C iaaiei ni?iuaiiyi iiaeia neacaoe, ui
iia?aoe?eiee iiieo ia a?io? ia caeaaeeoue a?ae noaaee i?ioeaioo, i?e
oeueiio a?ao?e iiieoo ia? aeaeyae ye ia iae.1.

Iiieo ia a?io? ye can?a caa?aaeaiiy aa?oino? caeaaeeoue a?ae aaee/eie
iiiiiaeueiie noaaee i?ioeaioo (iaa?iaii i?iii?oe?eii), ine?eueee i?e
aieiae?ii? a?ioaie a oi?i? iaee/iinoi ? /aeiaeo aeeaae?a, ia i?eiinyueo
aeanieeia? a?aenioe?a, aeieeathoue iaai? aiaiaii? (aeueoa?iaoeai?
aeo?aoe) o ii??aiyii? c aeei?enoaiiyi caiuaaeaeaiue o aeaeyae? oe?iieo
iaia??a.

?iciiae?e o?iainiaeo aeoea?a, iai?eeeaae ia iayai? a?io? ?
iae?aaoe??,caeaaeeoue a?ae aaee/eie noaaee i?ioeaioo: /ei aiia aeua, oei
ieae/a eo?n oe?iieo iaia??a ? aeua iiieo ia ieo, oei ieae/a iiieo ia
aioia? a?io? (ieae/a niaeoeyoeaiee iiieo), ? iaaiaee.

Oae, caaaeueiee iiieo ia a?io? caeaaeeoue a?ae ??aiy iiiiiaeueii?
i?ioeaioii? noaaee ? ianyao iiiiiaeueiiai AII.

Ia iae. 3: iiiiiaeueia i?ioeaioia noaaea — ia aa?oeeaeuei?e in?,
caaaeueiee iiieo ia a?io? — ia ai?eciioaeuei?e in?. Ooieoe?iiaeueia
caeaaei?noue oeeo ia?aiao??a aea? noeoii?noue e?eaeo, eiaeia c yeeo
a?aeiia?aea? iaaiiio ??aith iiiiiaeueiiai AII. Ia?ai?uaiiy ocaeiaae
e?eai? iieacothoue ci?ie i?ioeaioii? noaaee. I?e/iio niinoa?aeaii, ui
i?e aenieeo i?ioeaioieo noaaeao e?eaa noa? iaeaea aa?oeeaeueiith,
ine?eueee an? caiuaaeaeaiiy oeeaaeathoueny a oe?e neooaoe?? a oe?ii?
iaia?e, iiieo ia a?io? iaiaaeo?oueny iia?aoe?eiei iiieoii ? aaea ia
cieaeo?oueny i?e iiaeaeueoiio c?inoaii? i?ioeaioo.

A?ioiaee ?eiie

A oe?eiio a?ioiaee ?eiie iiaea aooe i?aaenoaaeaiee a aeaeyae? a?ao?eo
(iae 4). S — i?iiiceoe?y a?ioae — i?aaenoaaeaii o aeaeyae? aa?oeeaeueii?
i?yii?, ine?eueee i?eionea?, ui a?ioiai-e?aaeeoi? ? o?iainia? caeeaaee
noai?eee iaaio e?euee?noue a?ioae, ui ia caeaaeeoue a?ae aaee/eie
iiiiiaeueii? noaaee i?ioeaioo. E?aiea A — ciaoiaeeoueny ia ia?aoei?
e?eaeo iiieoo ? i?iiiceoe?? a?ioae ? aecia/a? «oe?io» ??aiiaaae ia
a?ioiaiio ?eieo.

?icaeyioaoe ia’?eoe iiiaoa?ii? iie?oeee, iaaaaeei i?aaenoaaeoe nia?
caaaeueio noaio ?? aieeao ? ioe?ieoe (iiee ui a naieo caaaeueieo ?enao)
iane?aeee ci?i, ui aeieeathoue a iiieo? ? i?iiiceoe?? ia a?ioiaiio
?eieo.

I?aaenoaaeii, ui ci?ith?oueny i?iiiceoe?y a?ioae, a iiieo ia a?io?
caeeoa?oueny iino?eiei.

sseui i?iiiceoe?y a?ioae c?inea, oi a?ao?e i?iiiceoe?? a?ioae
ia?aiauo?oueny i?aai?o/; ae??oueny ?oo ocaeiaae e?eai? iiieoo ai?aai
aiec aei e?aiee A1; noaaea i?ioeaioo cieaeo?oueny. Oe? ci?ie iethno?o?
iae. 5.

sse? ?aaeuei? i?ioeane iethno?o? iae. 5? I?e ca?eueoaii? i?iiiceoe??
a?ioae aeieea? ?o ei?ioei/aniee iaaeeeoie. Ethaee i?aaiooue ciaioeoe
e?euee?noue nai?o a?ioiaeo caian?a oeyoii iieoiee ?ioeo o?iainiaeo
aeoea?a (iai?eeeaae, iae?aaoe?e). Iiieo ia ieo c?inoa?, oe?ie,
a?aeiia?aeii, ca?eueoothoueny. I?ioeaioia noaaea, /e aeueoa?iaoeaia
aa?o?noue caa??aaiiy ia i?eiinyueo a?aenioe?a a?ioae, iaaea?. Ine?eueee
eeeaiaei?noue noa? iaiueo aei?iaith, ianaeaiiy ? o??ie iinooiiai
ca?eueoothoue e?euee?noue aio?aee ? /aeiaeo aeeaae?a, ui aiie aioia?
aea?aeaoe ia ?oeao, ? a?aeaoaeiao?oueny ??aiiaaaa ia a?ioiaiio ?eieo i?e
a?eueo?e i?iiiceoe?? a?ioae ? iaioiio i?ioeaio?.

I?e ciaioaii? i?iiiceoe?? a?ioae ??aiiaaaa ia a?ioiaiio ?eieo
a?aeaoaeiao?oueny i?e iaioi?, i?ae ia?a?nia, e?eueeino? a?ioae a ia?ao ?
a?eueoi?, i?ae ia?a?nia, noaaoe? i?ioeaioo.

I?eionoeii oaia?, ui ci?ith?oueny iiieo ia a?io?, a i?iiiceoe?y
caeeoa?oueny iaci?iiith.

sseui iiieo ia a?io? c??n, oi: e?eaa iiieoo ia a?io? cnoaa?oueny
i?aai?o/ aai?o, a i?ioeaioia noaaea i?aeaeuo?oueny. Oe? ci?ie iethno?o?
iae.6.

I?e ciaioaii? iiieoo ia a?io? aoaeooue a?aeaoaaoeny cai?ioi? yaeua.

Iae. 6 iethno?o? ianooii? ?aaeuei? i?ioeane. Oae iiieo ia a?io? c??n
aiane?aeie c?inoaiiy iiiiiaeueiiai AII, oiaoi ianaeaiiy ? o??ie oi/ooue
aea?aeaoe a?eueoa aeoea?a o aeaeyae? aioiaec a?ioae ? /aeiaeo aeeaae?a,
i?iaeaaay aeey oeueiai ?io? aaoa?e (iai?eeeaae, iae?aaoe??). Aea i?e
iaci?ii?e i?iiiceoe?? a?ioae ??aiiaaaa ia a?ioiaiio ?eieo iiaea aooe
onoaiiaeaia o?eueee i?e c?inoaii? «oe?ie» a?ioae, /e iiiiiaeueii? noaaee
i?ioeaioo.

I?e ciaioaii? iiieoo ia a?io? (i?iiiceoe?y iaci?iia) ??aiiaaaa ia
a?ioiaiio ?eieo anoaiiaethaoueny i?e iiiaae iecuee?e, i?ae ia?aenia,
noaaoe? i?ioeaioo.

?icaeyiaii oaia? iaoai?ci ?aaoethaaiiy a?ioiai? iane a ia?ao,oiaoi
i?iiiceoe?? a?ioae.

Iaoiaee eiio?ieth oa ?ino?oiaioe iiiaoa?ii? iie?oeee

A na?oia?e aeiiii?/i?e i?aeoeoe? aeei?enoiaothoueny ne?aeoth/?
?ino?oiaioe ?aaoethaaiiy a?ioiai? iane a ia?ao:

iia?aoe?? ia a?aee?eoiio ?eieo, oiaoi ia aoi?eiiiio ?eieo eacia/aenueeeo
oe?iieo iaia??a;

iie?oeea iae?eiai? noaaee, oiaoi ?aaoethaaiiy i?ioeaioo ii caeiao
eiia?oe?eieo aaie?a o oeaio?aeueiiai aaiea;

ci?ia ii?ie iaia’yceiaeo ?aca?a?a.

Iia?aoe?? ia a?aee?eoiio ?eieo

A oeae /an a na?oia?e aeiiii?/i?e i?aeoeoe? iniiaiei ?ino?oiaioii
?aaoethaaiiy a?ioiai? iane ? iia?aoe?? ia a?aee?eoiio ?eieo. Oeyoii
iieoiee /e i?iaeaaeo ia a?aee?eoiio ?eieo eacia/aenueeeo oe?iieo iaia??a
oeaio?aeueiee aaie iiaea cae?enieoe aai oeeaaiiy ?aca?a?a a e?aaeeoio
nenoaio aea?aeaae, aai aeeo/eoe ?o ca?aeo?ey.

Iia?aoe?? ia a?aee?eoiio ?eieo i?iaiaeyoueny oeaio?aeueiei aaieii
cae/aeii ni?eueii c a?oiith aei??aeieo aaie?a ? ?ioeo
o?iainiai-e?aaeeoieo caeeaae?a.

?icaeyiaii noaio i?iaaaeaiiy oeeo iia?aoe?e ia i?eeeaae? oeaio?aeueiiai
aaieo NOA — Oaaea?aeueiie ?aca?aii? nenoaie (aeae? O?N).

I?eionoeii, ui ia a?ioiaiio ?eieo niinoa??aa?oueny iaaeeeoie a?ioiai?
iane a ia?ao, ? oeaio?aeueiee aaie noaaeoue caaaeaiiy ii iaiaaeaiith /e
e?ea?aeaoe?? oeueiai iaaeeeoeo. Aeey oeueiai a?i aeoeaii ii/eia?
i?iiiioaaoe aea?aeaai? oe?ii? iaia?e ia a?aee?eoiio ?eieo aaieai /e
ianaeaiith, ui eoio? aea?aeaai? oe?ii? iaia?e e??cue niaoe?aeueieo
aeiea??a. Ine?eueee i?iiiceoe?y aea?aeaaieo oe?iieo iaia??a
ca?eueoo?oueny, ?o ?eieiaa aa?o?noue iaaea?, a i?ioeaioi? noaaee ii ieo
c?inoathoue ?, a?aeiia?aeii, c?inoa? «i?eaaaeea?noue» ?o aeey iieoioey.
Ianaeaiiy (/a?ac aeiea??a) ? aaiee ii/eiathoue aeoeaii eoioaaoe
aea?aeaai? oe?ii? iaia?e, ui i?eaiaeeoue aei nei?i/aiiy aaie?anueeeo
?aca?a?a. Nei?i/aiiy aaie?anueeeo ?aca?a?a, a naith /a?ao, ciaioeoue
i?iiiceoe?th a?ioae aei i?iii?oe??, ??aii? aaie?anueeiio
ioeueoiieeeaoi?o. E?eaa i?iiiceoe?? cnoiaoueny e?ai?o/, i?ioeaioia
noaaea c?inoa.

I?eionoeii oaia?, ui ia a?ioiaiio ?eieo niinoa??aa?oueny ianoa/a
a?ioiaeo cania?a a ia?ao. A oeueiio aeiaaeeo oeaio?aeueiee aaie
i?iaiaeeoue iie?oeeo, ni?yiiaaio ia iioe?aiiy a?ioiai? i?iiiceoe??, a
naia ii/eia? eoioaaoe aea?aeaai? oe?ii? iaia?e o aaie?a ? ianaeaiiy. Oei
naiei oeaio?aeueiee aaie ca?eueoo? iiieo ia aea?aeaai? oe?ii? iaia?e.
Aiane?aeie oeueiai ?o ?eieiaa oe?ia c?inoa?, i?ioeaioia noaaea ii ieo
iaaea?, ui ?iaeoue eacia/aenueei oe?ii? iaia?e «iai?eaaaeeaeie» aeey ?o
aeaniee?a. Ianaeaiiy (/a?ac aeiea??a) ? aaiee aeoeaii ii/eiathoue
i?iaeaaaoe aea?aeaai? oe?ii? iaia?e, ui i?eaiaeeoue a e?ioeaaiio
?aooieo, aei ca?eueoaiiy aaie?anueeeo ?aca?a?a ? (c o?aooaaiiyi
ioeueoeie?eaoe?eiiai aoaeoo) — aei ca?eueoaiiy a?ioiai? i?iiiceoe??.
E?eaa i?iiiceoe?? a?ioae cnoiaoueny i?aai?o/, a i?ioeaioia noaaea
oiaaea.

Aaie?anueea iae?eiaa noaaea

A iao?e ni?iuaii?e iiaeae? aaie?anueei? nenoaie i?eioneaeiny, ui
?aeeiith iiaeeea?noth i?eaeaaiiy aaieaie aeiaeaoeiai? e?eueeino?
?aca?a?a ? i?eoyaiaiiy aeiaeaoeiaeo aeeaae?a. I?ioa a ae?eniino? aaiee ?
iuaaei? ?inoeoooe, ui iio?aaothoue aeiaeaoeiaeo ?aca?a?a aeey
caaeiaieaiiy aeiiaai O?N aai aeey iioe?aiiy ianyao nai?o iice/ie,
iathoue ua iaeei aa??aio iiaiaeaeaiiy: iaea?aeaiiy ?aca?a?a oeyoii
caeio.

Iaeei ?c iiaeeeaeo cania?a cae?eniaiiy oeueiai aa??aioo ? a i?eoyaiaii?
?aca?a?a oeyoii caeio o ?ioiai aaieo. ?eiie, ia yeiio aaiee iaaeathoue
nai? ?aca?ae a oi?i? e?aoeino?ieiaeo iice/ie ?ioei aaieai, a?aeiiee ye
?eiie oaaea?aeueieo oiiae?a. Noaaea iiceeiaiai i?ioeaioo, ui noyaa? ii
oeei iice/eai, iaceaa? noaaeith i?ioeaioo ii oaaea?aeueiei oiiaeai.
Uiaeaiiee ianya iia?aoe?e ia aeaiiio ?eieo, aea iaaeathoueny
«24-aiaeeii?» iice/ee, aeinyaathoue i?euey?ae?a aeiea??a.

E??i oiai, aaiee iiaeooue iaea?aeoaaoe ?aca?ae oeyoii caeio o O?N e??cue
oae caaia «iae?eiaa a?eii». (Ia o?aaa ?icoi?oe oeae aene?a aoeaaeueii,
ai a ae?eniino? iaaeaiiy oaeiai ?iaeo iineoa iieeaaeaii ia iaeei ?c
a?aeae?e?a ?aa?iiaeueieo ?aca?aieo aaie?a, ui, c?icoi?ei ia ? a?eiii a
i?yiiio ci?no? neiaa.) Aaiee caa?oathoueny aei O?N ca caeiaie a aeaio
??ciiiai?oieo neooaoe?yo. Iaea?eueo /anoi aiie iaea?aeothoue
e?aoeino?ieia? iice/ee, uia i?eaanoe a ii?yaeie nai? ?aca?ae, yeui
iaaeaeai? aeeo/aiiy aeaiiceo?a i?eaaee aei iaae?iiy ?aca?a?a ieae/a
anoaiiaeaiiai iaia’yceiaiai ??aiy. Iiae?aiiai ?iaeo aaeaioaoeeiii?
caeie, ye ?o i?eeiyoi iaceaaoe, i?aeeyaathoue aaei?i?no?aoeaiei
iaiaaeaiiyi. O?N ia caioi/o? i?aeoeeo iaaeaiiy caei?a oei aaieai,
/anoioa ? ?ici??e aeei?enoaiiy iice/ie yeeie iaaei??ii aaeeei. Ui
/ano?oa aeayeee ?inoeooo caa?oa?oueny ca caeiaii e??cue iae?eiaa a?eii,
oei a?eueo aei?noeei noa? oene aaei?i?no?aoeaieo iaiaaeaiue, ui
ia?aoeiaeaeothoue iaaeaiith iice/ee. A oeo aeiaaeeao, eiee aaiee
caoioyoue ca?eueoeoe nai? ?aca?ae ii o?e i?ino?e i?e/ei?, ui aiie
aeyaeee iiaeeeaino? aea?aeiiai iaaeaiiy iice/ie, ?i aoaea ?aeiiaiaeiaaii
aeei?enoaiiy ?ioeo aeaea?ae a?ioiaeo cania?a, iai?eeeaae, i?eoyaiaiiy
aeiaeaoeiaeo aeaiiceo?a.

Ie??i iaaeaiiy e?aoeino?ieiaeo aaeaioaoe?eieo caei?a e??cue iae?eiaa
a?eii, O?N ?ieiee cae?enith? aeiaaino?ieiaa e?aaeeooaaiiy ia iniaeeaeo
oiiaao. Oea iiaeooue aooe, iai?eeeaae, iice/ee ae??aiei aaieai aeey
caaeiaieaiiy ?o aeiaeaoeiaeo naciiieo iio?aa a a?ioiaeo caniaao. ?ieiee
iice/ee oaeiae iaaeathoueny aaieai, iieieaoeiny a neeaaeiiio o?iainiaiio
iieiaeaii? ? ui iio?aaothoue aeiiiiiae aeey i?eaaaeaiiy a ii?yaeie naiai
aaeaino.

Noaaea iiceeiaiai i?ioeaioo, yeo O?N iacia/a? ii iice/eai, ui iaaea?
e??cue iae?eiaa a?eii, iaceaa?oueny aaie?anueeith iae?eiaith noaaeith.
Aiia noaiiaeoue ae?oaee ?ino?oiaio iie?oeee, ui aeei?enoa?oueny aeey
cae?eniaiiy eiio?ieth ca i?iiiceoe??th a?ioae. sseui O?N aaaaea?
iaiao?aeiei noai?eoe ni?eyoeea? oiiae aeey ca?eueoaiiy ianyao caei?a
e??cue iae?eiaa a?eii («aeeneiioieo caei?a»), aiia cieaeo? ??aaiue
aaie?anueei? iae?eiai? noaaee. sse o?eueee ??aaiue iae?eiai? noaaee
iaaea? ieae/a noaaee i?ioeaioo ii caeiao ia ?eieo oaaea?aeueieo oiiae?a,
a?ioia? aeo?aoe, ye? nii?yaeai? c i?eoyaiaiiyi eioo?a oeyoii caei?a
e??cue iae?eiaa a?eii, ciaiueoothoueny o ii??aiyii? c a?aeiia?aeieie
aeo?aoaie iaea?aeaiiy iice/ie o ?ioeo aaie?a. Ca?nii, ianya aeeneiioieo
caei?a i?e oeueiio ca?eueoo?oueny. I?ioa oaea iioe?aiiy ia? aeayeo
a?aieoeth, i?e aeinyaiaii? yei? aaiee a?aeiiaeyoueny a?ae iiaeaeueoeo
caei?a e??cue iae?eiaa a?eii oaeiae a oiio ?ac?, eiee ??aaiue
aaie?anueei? iae?eiai? noaaee aoaea cia/ii ieae/a noaaee i?ioeaioo ii
caeiao ia ?eieo oaaea?aeueieo oiiae?a. Ii i??? iioe?aiiy ianyao
aeeneiioieo caei?a, ianooia? iiiaio, eiee aeueoa?iaoeai? aeo?aoe,
iaoiiaeai? aei?noe?noth aaiaeeieo O?N aaei?i?no?aoeaieo iaiaaeaiue
(i?ioe ceiaaeeaaiiy aaieaie aeeneiioieie caeiaie), c?inoa? iano?eueee,
ui iiai?noth iaeo?aeico? aeaiaee iecueeiai ??aith i?ioeaioii? noaaee i?e
iaea?aeaii? iice/ie e??cue iae?eiaa a?eii. Oiio aaiee caa?oathoueny ca
caeiaie e??cue iae?eiaa a?eii o?eueee aei oiai iiiaioo, iiee ia
onoaiiaeoeny ??aiiaaaa i?ae iiaieie aeo?aoaie, ye? iia(ycai? c
i?eoyaiaiiyi e??cue iae?eiaa a?eii eiaeiiai aeiea?o (aeeth/ath/e ye
aioia?, a?ioia? aeo?aoe, ui aecia/athoueny ??aiai aaie?anueei? iae?eiai?
noaaee, oae ? aeueoa?iaoeai? aeo?aoe, iaoiiaeai? ca?eueoaiiyi aeinoeino?
aaei?i?no?aoeaiiai oeniaiiy), ? noaaeith iiceeiaiai i?ioeaioo ii caeiao
ia ?eieo oaaea?aeueieo oiiae?a. sseui aaie?anueea iae?eiaa noaaea
ci?ith?oueny uiaei noaaee i?ioeaioo ii caeiao ia ?eieo oaaea?aeueieo
oiiae?a, oi aeiaaa?oueny ii??aiyii iacia/ia ci?ia aaee/eie aeeneiioieo
caei?a aeey caeiaooeo oe??? oi/ee.

sseui O?N aaaaea? iaiao?aeiei nei?ioeoe ianya caei?a e??cue iae?eiaa
a?eii, aiia i?aeaeuo? ??aaiue aaie?anueei? iae?eiai? noaaee. Eiee
inoaiiy i?ae?eia?oueny aeua noaaee iiceeiaiai i?ioeaioo ia ?eieo
oaaea?aeueieo oiiae?a, caeie e??cue iae?eiaa a?eii noathoue iaiueo
i?eiaaeiei aeaea?aeii a?ioiaeo eioo?a.

A?ioia? caniae, ye? aaiee iaaeathoue iaeia iaeiiio a oi?i? iice/ie /a?ac
?eiie oaaea?aeueieo oiiae?a, ia aeyaeythoue i?yeiai aieeao ia aaee/eio
noiia?ieo aaie?anueeeo ?aca?a?a; oeyoii oaeiai ?iaeo caei?a ?aca?ae
?ooathoueny ii eieo, ia?aoiaey/e c ?aooie?a iaeiiai aaiea ia ?aooiie
?ioiai. A?ioia? eiooe, ocyo? a iice/eo e??cue iae?eiaa a?eii,
noaiiaeyoue /eno? aeiaeaoeia? ?aca?ae. Aiie ooai?ththoue iniiao i?ioeano
ioeueoiie?eaoeaiiai iioe?aiiy aeaiiceo?a aiaeia?/ii ?aca?aai, aaiaeeiei
a aaie?anueeo nenoaio oeyoii eoi?ae? ia a?aee?eoiio ?eieo. Ine?eueee oey
oi?ia caei?a aieeaa? ia ianya ?aca?aieo aeaiiceo?a, ci?ie ??aiy
aaie?anueei? iae?eiai? noaaee aeathoue a ?oee O?N ua iaeei ?ino?oiaio
oi?aae?iiy aaee/eiith a?ioiai? iane. I?aeaeuaiiy ??aiy aaie?anueei?
iae?eiai? noaaee nei?i/o? ianya ?aca?a?a, ui caeiaoaathoueny ca ?aooiie
caei?a ?, ioaea, ia? oaiaeaioe?th ciaiueooaaoe aaee/eio a?ioiai? iane.
Iiiiaeaiiy ??aiy iae?eiai? noaaee ni?ey? c?inoaiith ianyao ?aca?a?a, ui
caeiaoaathoueny ca ?aooiie caei?a, noai?thth/e ia?aaeoiiae aeey
iioe?aiiy a?ioiai? iane.

Ci?ia ii?ie iaia’yceiaeo ?aca?a?a

Ci?ia ii?ie iaia’yceiaeo ?aca?a?a noaiiaeoue o?ao?e ?ino?oiaio
iiiaoa?ii? iie?oeee, ui iiaea aeei?enoaoe O?N aeey eiio?ieth ca
i?iiiceoe??th a?ioae. Noia?ia aaee/eia aeaiiceo?a aei cao?aaoaaiiy
aecia/a?oueny ii ne?aeoth/?e oi?ioe?:

Noia?ia aaee/eia aeaiiceo?a aei cao?aaoaaiiy = (1\aa) o Caaaeueia
aaee/eia ?aca?a?a,

aea aa icia/a? ii?io iaia’yceiaeo ?aca?a?a. Aiaeia?/i?, aea a?eueo
neeaaei? oi?ioee canoiniaothoueny aeey iieno aca?iica’yceo i?ae ii?iaie
iaia’yceiaeo ?aca?a?a ? an?ia aeaiaioaie ia?aiao??a I1 ? I2 a no/ani?e
aaie?anuee?e nenoai? NOA. Oaeei /eiii, iiiiaeaiiy ii?ie iaia’yceiaeo
?aca?a?a ca?eueoeoue ianya o??? a?ioiai? iane, yeo iiaea i?aeo?eioaaoe
aeayea e?euee?noue ?aca?a?a, a i?aeaeuaiiy oe??? ii?ie nei?ioeoue
e?euee?noue aeiea??a a?ioiai? iane, ui i?eoiaeeoueny ia aeayeo iaaeaio
e?euee?noue ?aca?a?a.

Oi/ ci?ia ii?ie iaia’yceiaeo ?aca?a?a i?eiee ia aeei?enoaeany aeey
oe?eae iioi/iiai eiio?ieth ca i?iiiceoe??th a?ioae, O?N ?ieiee
ci?ithaaea oeth ii?io. Ae?yeiny oea a oeo aeiaaeeao, eiee O?N iaea
??oo/? iai??e aeiaeoeny naeaeao a a?e iioe?aiiy /e noeneo ianyao
i?iiiceoe?? a?ioae. Iai?eeeaae, a ia??iae aaaeeiai aeiiii?/iiai
caiaiaaeo 1974-1975 ?ie?a O?N o?e/? iiiiaeaea nai? aeiiae aei aaee/eie
iaia’yceiaeo ?aca?a?a.

Caeii i?i eiio?ieue ca a?ioiaei ia?aii 1980 ?ieo iioe?ea noa?o
?iciianthaeaeaiiy ii?ie iaia’yceiaeo ?aca?a?a, ui anoaiiaeth? O?N. Aei
oiai ye aoa i?eeiyoee oeae caeii, O?N iiaea aeiaaaoe aeio?eiaiiy
cacia/aii? ii?ie o?eueee o eiia?oe?eieo aaie?a, iaaeoiaeyueo aei ??
no?oeoo?e. A oeae /an O?N iiaea anoaiiaethaaoe aeiiae, ui noinothoueny
?aca?aiiai iie?eooy o?ainaeoeeiieo aeaiiceo?a, aeey an?o aeaiiceoieo
?inoeooo?a, ca aeiyoeii eeoa naieo ae??aieo. Ca?aeii c caeiiii, O?N
iiaea ?aaoethaaoe aaee/eio ii?ie iaia’yceiaeo ?aca?a?a a iaaeao a?ae 8
aei 14 a?aenioe?a aeey o?iainiaeo ?inoeooo?a, noia?ia e?euee?noue
o?ainaeoeeiieo aeaiiceo?a yeeo ia?aaeuo? aeayeee anoaiiaeaiee ??aaiue.
E??i oiai, i?e iaaieo oiiaao aiia iiaea iaeeaaeaoe aeiaeaoeia?
ciaia’ycaiiy ii ?aca?aiiio iie?eooth o?ainaeoeeiieo aeaiiceo?a. Ie??i
oeueiai, aiia iiaea ciaia’ycaoe o?iainia? ?inoeoooe, ?ici?? aeoea?a yeeo
ia?aaeuo? iaaio aaee/eio, aeio?eioaaoeny aeiiae iaia’yceiaeo ?aca?a?a
aeey iainiaiaeo oa?i?iiaeo aeeaae?a ? aeayeeo ?ioeo eaoaai??e ianea?a
oeyoii anoaiiaeaiiy ii?ie iaia’yceiaeo ?aca?a?a ii ieo a?ae 0 aei 9
a?aenioe?a.

I?ioa a ae?eniino? oaeineiiaeaiiy i?aeoeee anoaiiaeaiiy ii?i
iaia’yceiaeo ?aca?a?a, ye? aaiaeyoueny ca?aeii c Caeiiii i?i eiio?ieue
ca a?ioiaei ia?aii, ca(ycai? ?c ??ciiiai?oiiai ?iaeo oiieinoyii
oaoi?/iiai oa?aeoa?o. Inoaii? ?iaeyoue iaiueo i?eaaaeeaeie, ?c oi/ee
ci?o O?N, aeei?enoaiiy ci?ie ii?ie iaia’yceiaeo ?aca?a?a o aeaeyae?
?ino?oiaioo a?ioiai? iie?oeee. ? oi/ th?iaee/ii oeae ?ino?oiaio aein? ua
aeinooiai, i?ney 1980 ?ieo a?i a /eiae?e i??? caaoaea naith
aeooaeuei?noue ? aoa a?aeeeaaeaiee aei iaee?aueo /an?a. Nueiaiaei?
oyaeei neacaoe, /e ? a iueiai iaeaooi?.

Iniaeeaino? i?iaaaeaiiy iiiaoa?ii? iie?oeee ia no/aniiio aoai? ?icaeoeo

A iniia? a?ioiai-e?aaeeoii? iie?oeee eaaeeoue oai??y a?ioae
(iiiaoa?inonueea oai??y), ui aea/a? i?ioean aieeao a?ioae ?
a?ioiai-e?aaeeoii? iie?oeee ia noai aeiiii?ee a oe?eiio.

Aeiaa? ?iee na?aae aeiiiiino?a aaaeooueny aeeneon??, iaoiiaeai? aeaiia
??ciiiai?oieie iiaeoiaeaii aei oai??? a?ioae: iiaea?iici?iaaiith
eaein?ainueeith oai???th, ? no/aniith e?euee?niith oai???th a?ioae
(iiiaoa?iciii) — ?c ?ioee.

A /iio nooue noia?a/ee? ? eaein?aioe?, ? iiiaoa?inoe aeciathoue, ui
ci?ia a?ioiai? i?iiiceoe?? aieeaa? ia iiiiiaeueiee AII, aea ioe?iththoue
ii-??ciiio ? cia/aiiy oeueiai aieeao, ? nai iaoai?ci: ?c oi/ee ci?o
eaein?aioe?a, a iniiao iiiaoa?ii? iie?oeee iiaeiai aooe iieeaaeaiee
??aaiue i?ioeaioii? noaaee, a ?c oi/ee ci?o iiiaoa?ino?a, — nai ??aaiue
a?ioae.

Eaein?ainueea oai??y a?ioae

Iniiai? iieiaeaiiy oai??? ,ui a?aenoith?oueny eaein?aioeaii o aaeoc?
a?ioae, ne?aeoth/?:

?eieiaa aeiiii?ea ana?aaeei? naaa i?aaenoaaey? iano?eeo nenoaio c
aaaaoueia «ii?ieaie». Oiio aea?aeaai? ne?ae ?aaoey?ii aeei?enoaoe
??ciiiai?oi? ?ino?oiaioe ?aaoethaaiiy aeiiii?ee, a oiio /ene? ?
iiiaoa?io iie?oeeo.

Eaioetha i?e/iiii-ne?ae/eo ca’yce?a i?iiiceoe?? a?ioae ? iiiiiaeueiiai
AII oaeee: ci?ia a a?ioia?e i?iiiceoe?? ? i?e/eiith ci?ie i?ioeaioii?
noaaee, ui, a naith /a?ao, i?eaiaeeoue aei ci?ie a ?iaanoeoe?eiiio
iiieo? ? e??cue ioeueoeie?eaoe?eiee aoaeo — aei ci?ie a iiiiiaeueiiio
AII.

Iniiaia oai?aoe/ia ??aiyiiy, ia yeiio aacothoueny eaein?aioe?:

AII=C+I+G+NX,

aea C — niiaeea/? aeaeaoee ianaeaiiy; I — ?iaanoeoe??; G — aea?aeaai?
aeaeaoee ia iieoieo oiaa??a ? iineoa; NX — /enoee aenii?o.

Eaein?aioe? aaaaeathoue, ui eaioetha i?e/iiii-ne?ae/eo ca’yce?a i?ae
i?iiiceoe??th a?ioae ? iiiiiaeueiei AII aaeeeee. Oeaio?aeueiee aaie i?e
i?iaaaeaii? iiiaoa?ii? iie?oeee iiaeiai aieiae?oe aaeeeith ?ioi?iaoe??th
(iai?eeeaae, ye neaaeaoueny ia ?iaanoeoe?eiiio iiieo? ci?ia i?ioeaioii?
noaaee ?, ioaea, iane?eueee ci?ieoeny aaee/eia AII). Ia?iuoaaiiy
a?ioiai? i?iiiceoe?? acaaae? ia? aaaaoi ye? iaaaoeai? iane?aee?,
iai?eeeaae aeiiii?ea iiaea iieieoeny a oae caaii? «e?eaiaei?e eiaoooe?».
oeth neooaoe?th i?iaieo?, /eiaei ca?eueoaiiy a?ioiai? i?iiiceoe??, eiee
i?ioeaioia noaaea cieaeo?oueny aei e?eoe/ii iecueeiai ??aiy,
iaaeeaeath/enue aei i?i?iaeueiiai, ui icia/a? aeeeth/ii aeniea
a?aeaeaaaiiy ia?aaaae e?eaiaeiinoi. I?iiiceoe?y a?ioae i?iaeiaaeo?
ca?eueooaaoeny, aea i?ioeaioia noaaea oaea ia ?aaao? ia oea, ai ieae/a
iaaiiai ??aiy aiia ia iiaea iionoeoeny. Aea yeui noaaea i?ioeaioo ia
?aaao? ia ci?io a?ioiai? i?iiiceoe??, oi ?aaoueny eaioetha
i?e/iiii-ne?ae/eo ca’yce?a i?ae c?inoaiiyi e?eueeino? a?ioae a ia?ao ?
iiiiiaeueiei AII.

A ca’yceo c aeeeaaeaiei aeua niinoa?aeaii, ui eaein?aioe? aaaaeathoue
iiiaoa?io iie?oeeo ia iano?eueee neeueii ae?eiaei caniaii noaaieicaoe??
aeiiii?ee, ye, iai?eeeaae, oineaeueia aai athaeaeaoia iie?oeea.

Eaein?aioe? aaaaeathoue, ui aieiaiith i?iaeaiith a aea?aeaaiiio
?aaoethaaii? ? i?aeao?thaaiiy aooaeoiiai iiieoo, a ia ai?ioueaa c
?ioeyoe??th, ui iiaeiia iineoe ?aaoeth?iee oa?aeoa? (?ioeyoe?y iio??aia
aeiiii?oe?, ai — aiia aeiaeaoeiaee aaia?aoi? aooaeoiiai iiieoo).

Aea aaeaea iaia? aa?aio?e oiai, ui ?ioeyoe?y ia aeeaea c-i?ae eiio?ieth
aea?aeaae. Iai?eeeaae, iiaeia ciiaeaethaaoe oaeo neooaoe?th: c iaoith
ianooiiiai c?inoaiiy ianyao ae?iaieoeoaa ca?eueoaii a?ioiaa i?iiiceoe?y.
I?ioa i?ae i?e?inoii a?ioae a ia?ao, ?iaanoeoe?yie ? iaiiaiai? ?eieo
oiaa?aie ?nio? iaaiee oei/aniai? eaa. Ia?oith ?aaeoe??th ?eieo ia
ca?eueoaiiy a?ioiai? i?iiiceoe?? aoaea c?inoaiiy oe?i ia oiaa?e ?
iineoae. Iieoiaoeue aaeaioo?oueny aei i?aeaeuaieo oe?i, aea o iueiai
aeieea? ? aaeaioeaia niiae?aaiiy, ?, a?aeiia?aeii, i?aeaeuaiee iiieo,
ca’ycaiee ?c iiaeaeueoei c?inoaiiyi oe?i. Oiio ia?oith ?aaeoe??th
niiaeeaa/a ia oiaa?e, ui c’yaeeeny aoaea i?aeaeuaiee iiieo ia ieo, ?, ye
ne?aenoai, aoaea o?eaaoe c?inoaiiy oe?i.

Iiiaoa?enonueeee i?aeo?ae

A oe?eiio a 70-o aa. niinoa??aaeanue e?eca eaein?ainueei? oeiee. A
aeiiii?/i?e iaooe? iiia?oa noaa ia?aaaaeaoe iaieeane/iee iai?yi, a i?ney
oeueiai — iiiaoa?ici. Aieiaiee oai?aoee iiiaoa?icia — a?aeiiee
aia?eeainueeee aeiiiiino, eao?aao Iiaae?anueei? i?ai?? I.O?iaeiai.

A naieo caaaeueieo ?enao iniiai? iieiaeaiiy iiiaoa?icia oae?:

Iiiaoa?ici aaco?oueny ia ia?aeiiaii?, ui ?eieiaa aeiiii?ea oea
aioo??oiuei no?eea nenoaia. an? iaaaoeai? iiiaioe — ?acoeueoao
iaeiiiaoaioiiai ao?o/aiiy o?yaeo a aeiiii?eo. Oea ao?o/aiiy ne?ae naanoi
aei i?i?ioio.

Ei?aeyoe?y i?ae a?ioiaei /eiieeii (ianith a?ioae a ia?ao) ? iiiiiaeueiei
ia’?iii AII aeyaey?oueny iiiaae o?niith, i?ae i?ae ?iaanoeoe?yie ? AII.
Aeeiai?ea AII ne?aeo? aaciina?aaeiuei ca aeeiai?eith a?ioae (i?aaaea, c
aeayeei ni?ciaiiyi), oiio iiiaoa?ici ?iaeoue oii? ia a?io?.

Iiiaoa?ici nie?a?oueny ia ??aiyiiy ?.Oioa?a: I*V=P*Q, aea yeui ?.Oioa?
?iaeoue oii? ia aca?iica’ycie a?ioiaiai oaiiiaio c oe?iaie, oi
I.O?iaeiai oa(yco? aeeiai?eo a?ioiaiai /eiieea ?c iiiiiaeueiei AII.

Ine?eueee aeiaooie P*Q — oea oaeoe/ii iiiiiaeueiee AII, oi ??aiyiiy
iiaeia i?aaenoaaeoe ye: I=AII/V.

Iiiaoa?inoe caoaa?aeaeothoue, ui aaee/eia V noaaieueia, oiaoi i?aeoe/ii
ia ci?ith?oueny a e?aoeino?ieiaiio ia??iae?, a a aeiaaino?ieiaiio
ia??iae? ci?ith?oueny iia?eueii ? oe? ci?ie eaaei ia?aaeaa/ai?. E??i
oiai, i?e ci?i? a?ioiai? i?iiiceoe?? V ia ci?ith?oueny.

Aea yeui V noaaieueia, oi /eiiee a?ioae iiaeia caienaoe c iaaiei
eiao?oe?aioii k, oiae?

k*M=AII,

ioaea, a?ioiaa i?iiiceoe?y — oea ae??oaeueiee /eiiee, ui aieeaa? ia
ci?io AII.

I?e/iiii-ne?ae/ee ca’ycie i?ae i?iiiceoe??th a?ioae ? iiiiiaeueiei AII
cae?enith?oueny ia /a?ac i?ioeaioio noaaeo, a aaciina?aaeiuei, oei naiei
a?aeii? ye ae» ao?aei? ? aeo?aei? aeai? «aieeao i?iiiceoe?? a?ioae ia
AII, naiee ae iaoai?ci aieeao ne?eoee. I.O?iaeiai ni?iaoaaa iiynieoe
oeae iaoai?ci, aa?aoe i?ii?aeio eaoaai??th — «ii?ooaeue aeoea?a», oiaoi
noeoii?noue an?o ?ano?n?a, yeeie aieiae?? iiaeeaiaeooi.

O?iaeiai a?aecia/aa, ui eiaeia ethaeeia caeea? aei iaaii? no?oeoo?e
aeoea?a: ni?aa?aeiioaiith a?ioae ? ?ioeo aeae?a aeoea?a. I?e ca?eueoaii?
a?ioiai? i?iiiceoe?? cae/ia ni?aa?aeiioaiiy ci?ith?oueny ?, uia
a?aeaoaeoaaoe eiai, ethaee ii/eiathoue eoioaaoe aoaeue-ye? ?aaeuei? ?
o?iainia? aeoeae (a ia o?eueee iae?aaoe??, ye i?aaenoaaeythoue
eaein?aioe?). Niaieoiiee iiieo c?inoa? ? a e?ioeaaiio ?aooieo i?eaiceoue
aei c?inoaiiy iiiiiaeueiiai AII.

Aeoiaey/e c oeueiai, I.O?iaeiai aenoioa «a?ioiaa i?aaeei» naaeainiaaii?
aeiaaino?ieiai? iiiaoa?ii? iie?oeee, a naia: aea?aeaa? ne?ae
i?aeo?eioaaoe iaa?oioiaaiee iino?eiee i?e??no a?ioiai? iane a ia?ao.
Aaee/eia oeueiai i?e?inoo aecia/a?oueny ??aiyiiyi I.O?iaeiaia:

I = P + Y,

aea I — n?aaeiuei??/iee oaii i?e?inoo a?ioae, % ca o?eaaeee ia??iae; Y —
n?aaeiuei??/iee oaii i?e?inoo AII, % ca o?eaaeee ia??iae, %; P —
n?aaeiuei??/iee oaii i/?eoaaii? ?ioeyoe??, %.

N?aaeiuei??/iee oaii i/?eoaaii? ?ioeyoe?? i?ae?aoiao?oueny ii oae caai?e
«naio-eoinnueeie iiaeae?», a naia — ?c niaieoiiiai ??aiy ?ioeyoe??
a?aei?ia?oueny ?ioeyoe?y, aeeeeeaia aea?aeaaith, i?ioni?eeaie ? o. i.
Iaea?aeo?oueny ??cieoey — oey aaee/eia oae caaii? i/?eoaaii? ?ioeyoe??.

Iiiaoa?ia i?aaeei I.O?iaeiaia aeoeaii noaei canoiniaoaaoeny ?c 1975
?ieo a Aiae?? ? NOA (oa/a?ici ? ?aeaaiii?ea), a oae caai?e iie?oeoe?
oa?aaooaaiiy, oiaoi ui??/iiai cai?iaaaeaeaiiy iaaieo iaiaaeaiue ia
ca?eueoaiiy a?ioiai? iane a ia?ao. A?ioiaa i?aaeei I.O?iaeiaia i?eionea?
noaa?eueia ? iii??ia c?inoaiiy a?ioiai? iane a iaaeao 3-5% ia ??e. A
?ac? ii?ooaiiy a?ioiaiai i?aaeea i?e oaii? a?ioiaeo aeeaaiiue a
aeiiii?eo iiiaae 3-5% ia ??e aoaea ae?yoeny ca?eueoaiiy ?ioeyoe??, a
yeui oaii oeeaaiiy aoaea ieae/a 3-5%, oi oaii i?e?inoo AII aoaea
iaaeaoe.

Caeeth/aiiy

Ia no/aniiio aoai? ?icaeoeo, a aiioo ao?oeeaeo ci?i ia na?oia?e a?ai?,
iniaeeai? aaaeeeaino? iaaoee ieoaiiy, iia(ycai? c nenoaiaie aea?aeaaiiai
?aaoethaaiiy. Aaaaeath, ui ia o?aaa aeiaiaeeoe oiai, ui a?ae iaoiae?a oa
?ino?oiaio?a aea?aeaaiiai ?aaoethaaiiy caeaaeeoue aeaiie?aoe/iee ono??e
a noni?euenoa?. O oeueiio iaoeiaiio aeine?aeaeaii?, aaoi? aeaoaeueii
coieieany ia ?ino?oiaioao iiiaoa?ii? iie?oeee. I?ney ?icaeyaeo ieoaiiy
iiaeia neacaoe:

iniiaieie ?ino?oiaioaie ?aaoethaaiiy a?ioiai? iane a oeae /an a
na?oia?e aeiiii?oe? ? iia?aoe?? ia a?aee?eoiio ?eieo. Oeyoii eoi?ae? oa
i?iaeaaeo ia a?aee?eoiio ?eieo eacia/aenueeeo oe?iieo iaia??a,
oeaio?aeueiee aaie iiaea cae?enieoe aeeaaiiy ?aca?a?a a e?aaeeoio
nenoaio aea?aeaae aai aeeo/eoe ?o c iai?ioo. Iia?aoe?? ia a?aee?eoiio
?eieo i?iaiaeyoueny oeaio?aeueiei aaieii ni?eueii c a?oiith aei??aeieo
aaie?a oa ?ioeo o?iainiai-e?aaeeoieo caeeaae?a;

na?aae ?ino?oiaio?a iiiaoa?ii? iie?oeee ci?ia aaieianueei? iae?eiai?
noaaee caeia? ae?oaa i?noea ca cia/aiiyi i?ney iie?oeee oeaio?aeueiiai
aaieo ia a?aee?eoiio ?eieo;

o?ao?i ?ino?oiaioii iiiaoa?ii? iie?oeee ? ci?ia ii?ie iaia(yciaeo
?aca?a?a. Oeae ?ino?oiaio, ia aeoieo niaoe?ae?no?a, ye? cae iathoueny
oe??th i?iaeaiith, ? iaea?eueo iiooaeiei aea a oie aea /an aeinoaoiuei
a?oaei, ine?eueee oi?ea?oueny iniia on??? aaieianueei? nenoaie. Iaa?oue
iacia/ia ci?ia ii?ie iaia(yceiaeo ?aca?a?a iiaea aeeeeeaoe cia/i? ci?ie
a ia(?i? aaie?anueeeo aeaiiceo?a oa e?aaeeo?a, oiio aaeeaa?oueny oeae
?ino?oiaio o aeeeth/ieo aeiaaeeao.

?icaeaaeath/e iniaeeaino? i?iaaaeaiiy iiiaoa?ii? iie?oeee ia no/aniiio
aoai?, iio??aii aecia/eoe, ui no/ani? oai?aoe/i? iiaeae? iiiaoa?iie
iie?oeee noaiiaeyoue neioaoe/io iiaeaeue, ui aaco?oueny ? ia
eaein?aineio ? ia iiiaoa?inoneio iiaeoiaeao, a oaeiae a?aoiaoth/e ? ?io?
oi/ee ci?o, ?nioth/? a oai??? a?ioae, aeae?ath/e ?aoe?iiaeueia a eiaeii?
?c ieo.

A aeiaaino?ieiaiio ia??iae? a a?ioiai-e?aaeeoii? iie?oeoe? nueiaiaei?
ia?aaaaea? iiiaoa?inonueeee i?aeo?ae. ?acii ?c oei, aea?aeaaa ia
a?aeiiaey?oueny a e?aoeino?ieiaiio ia??iae? a?ae aieeao ia i?ioeaio a
oe?eyo oaeaeeiai aeiiii?/iiai iaiaa?oaaiiy.

I?ney ?iceayaeaiiy iiaeaii? ?iaioe noa? yaiei, ui iiaeaeueoee ?icaeoie
oa i?ioea?oaiiy iaoi? iieiaei? aea?aeaae ia no/aniiio aoai? o aaaaoueio
aniaeoao caeaaeeoue a?ae oi?ioaaiiy nenoaie aea?aeaaiiai ?aaoethaaiiy,
oa cie?aia a?ae iiiao?ii? iie?oeee Oe?a?ie.

Aeei?enoaia eeoa?aoo?a

A?aaeineee N.A. Iiiaoa?eci eae yeiiiie/aneay aeieo?eia. //Aeaiueae e
e?aaeeo. 1992. ?2.

Aeieeai Y.Aeae., Eaiiaaee E.Ae., Eaiiaaee ?.Aeae. Aeaiueae, aaieianeia
aeaei e aeaiaaeii-e?aaeeoiay iieeoeea. I.-E., 1991., Ae. 14-20.

Aeieeai Y.Aeae., Iae?iyeiiiieea., N.-Ia., 1994., 207-214.

Iaeeiiiaee E.?., A?th N.E., Yeiiiieen., I., 1993.

?aii/iay yeiiiieea., I., 1992. O. 2. *. 1. Ae. 13.

Onineei A.I. «Aeaiaaeiue ie?» Ieeoiia O?eaeiaia., I., 1989.

Oa??en E. Aeaiaaeiay oai?ey. I., 1990.

Aeey iii?oie:

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Iiiaoa?ia iie?oeea ? ?? ?ino?oiaioe

Ni?aaeia I.N.

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