The only thing people are interested in today is earning more money

PUBLIC FINANCE

The government collects money from citizens through taxes. Income tax is the tax collected on wages and salaries. Inheritance tax is collected on what people inherit from others. Customs or excise duties have to be paid on goods imported from other countries. VAT or value added tax is a tax paid on most goods and services when they are bought or purchased. Companies pay corporation tax on their profits. If you pay too much tax, you should be given some money back, a tax rebate.

The government also sometimes pays out money to people in need, e.g. unemployment benefit, disability allowances and student grants. Recipients draw a pension / unemployment benefit or are on the dole or on social security.

Every country has its own special currency. Every day the rates of exchange are published and you can discover, for example, how many dollars there are currently to the pound sterling.

A company may sell shares to members of the public who are then said to have invested in that company. They should be paid a regular dividend on their investment, depending on the profit or loss made by the company.

Choose the right answer.

1. When you retire at the age of sixty-five, you receive a(n) ....... from the government. (allowance, fine, grant, pension)

2. If production in that factory exceeds the target, the workers get a ....... . (bonus, donation, gratuity, premium)

3. Income tax is ....... to one's annual income. (associated, based, dependent, related)

4. The ....... of living has risen by 25% in the last six months. (cost, expenditure, expense, price)

8. As the car is small, it's much more ........ on petrol.

a. expensive b. poor c. economical d. economic

9. All employees had to cut down on travelling ......... .

a. expenses b. savings c. stoppages d. wages

10. My credit card is ........ in most countries.

a. exchanged b. reserved c. excepted d. accepted

11. The bill came. ...... .$100.

a. at b. for c. to d. as

12. They ........ part of his wages for being late.

a. reduced b. deduced c. deducted d. retired

13. Could you lend me £20? I'm a bit short........ money.

a. of b. off c. with d. from

14. They persuaded him to ........ money in their company.

a. investigate b. buy c. invest d. lay

15. You'll get a better ........ of exchange at a bank.

a. rate b. value c. worth d. charge

16. The meals are such a reasonable price because they are ........ by the company.

a. allowed b. reduced c. deducted d. subsidized

88)Answer the following questions:

1 Which of these means: ‘without money'?

a broke b broken c stingy d tight-fisted

2 What's the opposite of in the red?.....................

3 What is the name for the money demanded by kidnappers?.....................

4 According to the saying, money is the root of all………..

The only thing people are interested in today is earning more money

Once upon a lime there lived a beautiful young woman and a handsome young man. They were very poor, but as they were deeply in love, they wanted to get married. The young people's parents shook their heads. 'You can't get married yet,’ they said. 'Wait till you get a good job with good prospects.’ So the young people waited until they found good jobs with good prospects and they were able to get married. They were still poor, of course. They didn't have a house to live in

to find the money to pay them all. (accounts, bills, estimates, receipts)

Date: 2015-12-24; view: 2583