Английский язык для экономических специальностей (English for economists)

Английский язык для экономических специальностей (English for economists)

3. noun + -hood

neighbour, child, brother, mother

4. adjective + -(i)ty

mortal, electrical, minor, major

5. verb + -al

refuse, propose, arrive, dispose

11. Chose antonyms:

payment - a). expense; b). expenditure; c). nonpayment.

agreement - a). disagreement; b). refusal; c). reduction.

employment - a). occupation; b). unemployment; c). freedom.

useful - a). helpless; b). applied; c). harmful; d). useless.

12. Read the text and retell it in Russian:

Birmingham

Birmingham (England), city, seat of the metropolitan county of West Midlands, central England. In 1974 the former municipal borough of Sutton Coldfield was incorporated into the city. A major industrial center, Birmingham is the second largest city in Great Britain. It is the hub of the British metal goods industry and is served by a network of railroads and highways. Among the principal metal products manufactured are motor-vehicle parts, machine tools, brassware, household utensils, sporting guns, and jewelry. Other important manufactures include electrical equipment, glass, rubber products, and chemicals. The city is located in an important coal-mining region.

Birmingham is the seat of the University of Birmingham (1900), the University of Aston in Birmingham (1895), the University of Central England in Birmingham (1992, formerly a polytechnic college), and several technical schools. Cultural facilities include the large Birmingham Museums and Art Gallery (1867), the Museum of Science and Industry, the City of Birmingham Symphony Orchestra, and the Birmingham Repertory Theatre (1913). The city's Municipal Bank (opened 1916) is the only one of its kind in Great Britain. Birmingham churches include Saint Philip's Cathedral (1715), Saint Martin's Parish Church in the Bull Ring (13th century), and the Roman Catholic Saint Chad's Cathedral (1841). Other notable buildings are the neoclassical Town Hall (1834), the Renaissance-style Council House (1881), and the modern Bull Ring Shopping Centre.

Heavily bombed during World War II, the city has undergone extensive rebuilding. Population (1981) 1,006,908; (1991 preliminary) 934,900.

Unit 11

Grammar: 1. Объектный инфинитивный оборот (The Objective Infinitive Construction).

2. Субъектный инфинитивный оборот (The Subjective Infinitive Construction).

I. Language Practice

1. Practise the fluent reading and correct intonation:

-- `How did you `get on in your exams?

-- I passed.

-- Congratulations! What `marks did you `get?

-- Three fives and a four.

-- `Well done. `Now you can relax and enjoy your`self for a `bit.

-- Yes. It's a `big relief.

2. Listen to the speaker; read and memorize the following words and phrases:

to engage - заниматься

trade - ремесло

occupation - занятие

county clerk - служащий округа

at will - по желанию, по усмотрению

power - право

charter - устав

consent - согласие

to terminate - заканчивать, завершать

to dissolve - расторгать, аннулировать

bankruptcy - банкротство

misconduct - дурное поведение

authority - полномочие

cash - наличные деньги

debt - долг

to mortgage - закладывать

good faith - добросовестность

dealings - торговые дела

to account - отвечать (за что-либо)

liability - ответственность

to permit - разрешать

Text. Partnership

Partnership, in law, term applied to an association of two or more persons who have agreed to combine their labor, property, and skill, or some or all of them, for the purpose of engaging in lawful business and sharing profits and losses between them; in this definition the term business includes every trade, occupation, and profession. The parties forming such an association are known as partners. Partners may adopt a fictitious name or use a real family name. In the U.S., most states require the filing of a certificate of partnership with the county clerk when an assumed name is used. The agreement to form a partnership is known as a partnership contract, the most important provision of which spells out the manner in which profits are to be distributed.

A partnership can be formed only by contract; the Statute of Frauds requires the agreement to be in writing if the term exceeds one year; failure to comply results in a partnership at will. Any number of persons may contract to form a partnership, and firms of partners may enter into partnership with one another. By contrast, in most states, a corporation has no power to enter into a partnership unless such power is expressly given in the corporate charter. New members may be admitted into an existing partnership only with the consent of all the partners. The agreement of partnership generally is for a definite term of years; if no duration is specified, it is said to be a partnership at will and can be terminated at any time by any partner. By agreement of the members, a partnership may be dissolved or terminated and the terms of the partnership agreement modified at any time. Death or bankruptcy of a partner, the insanity or misconduct of a partner, and the end of the period fixed for the duration of the partnership also operate to terminate the partnership.

A partner acts as an agent of the firm in the conduct of its business. Authority to act depends not only on the express powers given to a partner by the partnership agreement, but also on the implied powers resulting from the partnership relation and the nature of the business conducted. In the case of a partnership formed to conduct a wholesale or retail business, for example, a partner has implied power to borrow money for trade purposes, to buy on cash or credit, to make contracts and negotiable instruments to hire employees, to pay firm debts and sell or mortgage property for that purpose and to receive payment of debts owed the firm. A partner must, however, exercise the highest degree of good faith in all dealings with the other partners, devote time and attention to the partnership business, and must account to the other partners for any secret profits made in the conduct of the partnership business. The liability of a partner for partnership debts is said to be unlimited, except when the partner is a limited one in a limited partnership organized in accordance with the provisions of a state statute permitting such limitation of liability.

II. Exercises on the Text:

3. Give English equivalents to:

термин, касающийся объединения двух или более лиц; термин деятельность (бизнес) включает любое ремесло, занятие или профессию; фиктивное название; заполнение сертификата товарищества; означает способ; если срок превышает один год; корпорация не имеет права вступать в товарищество; корпоративный устав; если не указана продолжительность; в любое время любым партнером; умопомешательство или дурное поведение партнера; осуществление своей деятельности; характер осуществляемой деятельности; партнер приобрел право занимать деньги для торговых целей; условия договоров для найма служащих; уделять время и внимание; в соответствии с законом штата.

4. Complete as in the text and translate into Russian:

1. The parties forming such an association... 2. Partners may adopt a fictitious name or use... 3. A partnership can be formed only... 4. New members may be admitted into an existing partnership only with ... 5. ... it is said to be a partnership at will and can be terminated at ... 6. A partner acts as an agent to the firm in the conduct... 7. ... for example, a partner has implied power to borrow money for trade purposes? To buy on cash or credit? To make contracts and negotiable instruments to hire employees? To pay...8. The liability of partner for partnership debts is said to be unlimited, except when partner is a limited one in a limited partnership...

5. Sum up what the text says about:

partnership as a term in law;

the formulation of a partnership;

the terms of partnership agreement; partner's authority;

the liability of a partner.

6. Imagine you are a firm's manager. Using the following scheme answer the questions:

1. How many departments are there at the company?

2. How many managers do work at the company?

3. What is in your opinion the most important department?

4.Are there any overseas branches?

III. Grammar Exercises

7. Express the following using simple sentences with Complex Object:

Example: I see how this woman goes to the factory every day.

I see this woman go to the factory every day.

1. I saw how the director explained the details of the plan. 2. We heard how they spoke about their Institute. 3. The manager watches how the employees enter the office. 4. I heard how the workers discussed the problems they had to solve to increase the output. 5. We saw how they used the equipment we sent them last month. 6. I heard how the engineer explained the new methods of production.

8. Fill in the blanks with one of the following verbs in the form of the Infinitive:

arrive, cry, do, explain, go, get, hear, know.

1. Please stay with me, I don't want you .... 2. David's parents didn't want him ... married. 3. She didn't understand the story, so she asked me ... it to her. 4. Talk quietly. I don't want anybody ... us. 5. You're here early. We expected you ... later. 6. It was a very sad film. It made me .... 7. Please don't tell Tom about my plan. I don't want him .... 8. What do you think about my problem? What do you advise me ...?

9. Express the following using simple sentences with Complex Subject:

1. It is known that new economic theory is tested by practice. 2. It seems that this approach ignores the objective conditions. 3. It is said that you know the data very well. 4. It is understood that the seller will help us to choose the necessary goods. 5. It is known that the first reference to cotton has been made 2,500 years ago. 6. It is believed that the wage incentive program will be adopted in May.

10. Transform the sentences using Complex Subject and the words in brackets:

Example: He has lost weight (seem).

He seems to lose weight.

1. You know a lot of our customers (seem). 2. Our product line is getting better (appear). 3. That car has broken down (appear). 4. Our executing officer forgets things (tend). 5. They have solved the problem of variable expenses (claim). 6. The situation in this warehouse is more difficult than we thought (seem).

11. Translate into Russian:

1. With more and better goods and services available everyone's living standard is likely to improve. 2. If producers expect prices to increase in the future, they may increase their production. 3. When a budget has expenses that exactly equal income, it is said to be balanced. 4. When proposed expenses are greater than expected income, the budget is said to have a deficit. 5. The proportional tax seems to be fair because everyone pays the same rate. 6. When dollar values are down, overseas sales are likely to increase. 7. Sellers in each country expect to be paid in their own currency for the goods they sell to other countries. 8. The management of the firm wants them to report about the results or their negotiations. 9. Such times of inflation and deflation are likely to create hardships for many sectors of the economy. 10. Overall employment in the industry is sure to decline as small farms are consolidated into large farms and technology further reduces the need for farm labour.

12. Give the meaning of the following words:

to employ, employee, employer, employment, unemployment, employed.

to pay, paid, payment, paying, payable, payer.

to own, own, ownership, owner.

to buy, bought, buyer.

to sell, seller, selling, sold.

to manage, management, manager, managing, manageable, managerial.

to market, market, marketing, marketability, marketable.

13. Read the text and retell it in Russian:

The United States of America

After its 200th birthday the United States of America still holds the leading position in the western world. A country that inspired many appelations - "Land of Opportunity," "Melting Pot," "God's Country," is still referred to us as a land of superlatives -"the richest," "the greatest," "the most."

What makes the USA the leader of the western world is its economic, political and military dominance over other countries.

The United States lies in the central part of the North American Continent between the two oceans: the Atlantic Ocean to the East and the Pacific Ocean to the West. Friendly Canada to the north and friendly Mexico to the south are the only countries bordering it.

The USA consists of three separate parts. They are the Hawaiian Islands, situated in the central part of the North American continent of the Pacific Ocean, Alaska separated by the Canadian territory and the rest major part of the USA. The states differ very much in size, population and economic development.

There are many big cities and towns in the USA: New York, San Francisco, Washington, Chicago, Los Angeles are the biggest of them.

The United States of America is a parlamentary republic. The government is divided into three branches: legislative (the US Congress), executive (the President and his Administration) and judicial (the US Supreme Court).

There are two main political parties in the USA: the Democratic (symbolized by a "donkey") and the Republican (its symbol is an "elephant"). The US President is both head of state and government. He is elected for a four-year term. Presidential elections are held every leap year on first Tuesday after first Monday in November. The President is assisted by Secretaries who are the heads of the executive departments. The Supreme Court consists of Chief Justice and eight Associate Justices who are appointed for life. It is supposed to decide whether a law of the Congress or an executive order of the President is constitutional or not.

The form of US government is based on the Constitution of September 17, 1787, adopted after the War of Independence. In December 1791, the Congress adopted ten amendments to the Constitution, known as the Bill of Rights. The latter enumerated what the government controlled by the oligarchy was not going to be allowed to do, which was, of couse, an important democratic gain for people.

The Congress of the United States is composed of two houses, the Senate and the House of Representatives. The Senate represents the states and the House represents the population according to its distribution among the states. All states have electoral requirements of the same nature. First of all they are residence requirements.

Through its power over the purse, the US Congress can control much that relates to foreign policy, also it is a governmental body that determines taxation.

Each of the fifty states of the USA has a constitution patterned after the federal Constitution, with its divisions of power: legislative, executive, and judicial.

The Presidency means not only a man: means an institution - the "executive branch" of the government.

Unit 12

Grammar: 1. Герундий.

2. Герундиальные обороты.

Prep. + Noun (прит.п.) + Gerund

Pronoun (прит.)

(Prep.) + N (общ.п.) + Gerund

Example: He speaks of the workers' (their) doing it.

...что рабочие сделают это.

7. Form gerunds using the suffix -ing:

read; explain; govern; create; develop; increase; provide; delivery; establish; distribute; visit; enter.

8. Make the following sentences simple using the Gerund:

1. Do you mind if I take your warranty card for a moment? 2. We must consider the matter thoroughly before we come to any conclusion. 3. I remember that we have seen our department head only once. 4. When he received another letter from his firm he changed his mind. 5. Before he left the office he called on his sales manager.

9. Translate the following sentences into Russian:

1. Cleaning up the river will require a major effort, and considerable expense. 2. Scientists' working together and their sharing ideas with one another is of great advantage for science. 3. Economists have two ways of looking at economics and the economy. 4. Sellers compete by trying to produce the goods and services buyers want at the lowest possible price. 5. The next step in preparing a personal budget is to draw up a list of all your sources of income. 6. There are numerous reasons people think about owning a business of their own. 7. Instead of using that temporary opportunity to increase the market share for American autos by holding prices at current levels or lowering prices, the auto companies raised their prices. 8. Monetary policy refers to regulating the supply of money as a way of stabilizing the economy. 9. Ricardo is especially famous in international economies for demonstrating the advantages of free trade. 10. Hardly a day passes without hearing a commercial or reading an ad describing the advantages of one kind of program over another. 11. A firm of under 20 employees has a 37 percent chance of surviving four years. 12. Scientists' constantly exploring the unknown, their looking for new knowledge and the answers to unsolved questions cannot be overestimated.

10. Try to understand the following song paying attention to the Gerund:

I LIKE HAVING A WALK

On Sunday afternoons in the middle of July

I like having a rest just looking at the sky.

I like listening to the birds singing in the trees

- In July...

I like having a walk when the sun shines.

And walking in the rain.

I love thinking of you and all the things you do

- On Sunday afternoons.

On rainy April Sundays I like staying at home.

I like reading a book or simply being alone.

I like watching a film or listening to some music

- In April...

11. Read the text and retell it in Russian:

David Ricardo (1772-1823) Classical Champion of Free Trade

David Ricardo is one of history's most influential economists. Born in England, Ricardo made a fortune on the London Stock Exchange. This wealth gave him the time to write and to serve in Parliament's House of Commons. His most famous work. Principles of Political Economy and Taxation (1817), marked him as the greatest spokesman for classical economics since Adam Smith.

Ricardo is especially famous in international economics for demonstrating the advantages of free trade. Free trade is a policy in which tariffs and other barriers to trade between nations are removed. To prove his point, Ricardo developed a concept we now call the principle of comparative advantage. Comparative advantage enabled him to demonstrate that one nation might profitably import goods from another even though the importing country could produce that item for less than the exporter.

Ricardo's explanation of comparative advantage went as follows:

Portugal and England, both of whom produce wine and cloth, are considering the advantages of exchanging those products with one another.

x barrels of wine are equal to (and therefore trade evenly for) у yards of cloth.

In Portugal 80 workers can produces barrels of wine in a year. It takes 120 English workers to produce that many barrels.

Portuguese workers can produce у yards of cloth in a year. It takes 100 English workers to produce у yards of cloth.

We can see, Ricardo continued, that even though Portugal can produce both wine and cloth more efficiently than England, it pays them to specialize in the production of wine and import English cloth. This is so because by trading with England, Portugal can obtain as much cloth for 80 worker-years as it would take 90 worker-years to produce themselves.

England will also benefit. By specializing in cloth, it will be able to obtain wine in exchange for 100 worker- years of labor rather than 120.

As a member of Parliament, Ricardo pressed the government to abandon its traditional policy of protection. Though he did not live to achieve that goal, his efforts bore fruit in the 1840's when England became the first industrial power to adopt a policy of free trade. There followed 70 years of economic growth during which the nation became the world's wealthiest industrial power.

Unit 13

Grammar: 1. Participle I

2. Причастные обороты.

3. Независимые причастные обороты.

I. Language Practice

1. Practise the fluent reading and correct intonation:

- `What do you `usually `do after work, Ann?

-Oh, a lot of things. There's `always a `lot of `work to do about the house, washing up, doing the rooms, mending clothes.

- No, I `don't `mean that. `What's your `favourite pastime?

- Again - `nothing very special. Sometimes I read a little, watch TV or `listen to the music.

- `What's your father's hobby?

- He `enjoys carpentry, just making shelves, boxes, stools and so on.

- Oh, his `hobby `seems to be both interesting and useful for the house. By the way, do you know `what are the most `common `hobbies of Englishmen?

- Well, it `isn't an easy question. As `far as I know, `many `Britishers like `sports and games, others, `gardening or `collecting `different things.

- I see. `What about dancing? Do you like it?

- Oh, very. Actually I'm crazy about dancing. `Do you `mean to `say we'll `go to a dance?

- Yes, I'd like to. There's a very good disco at the College Club.

2. Listen to the speaker; read and memorize the following words and phrases:

1. incorporate - регистрироваться

2. subchapter S - раздел в налоговом кодексе США, касающийся налогообложения малых корпораций

3. income tax - налог на прибыль, подоходный налог

4. to prorate - распределять пропорционально

5. returns - отчет, налоговая декларация

6. tax return - налоговая декларация

7. to incur - потерпеть убытки

8. retained earnings account - счет о нераспределенной прибыли

C-corporation - (амер.) частная компания с ограниченной ответственностью

tax rate - налоговая ставка

Text. Small Business in the USA: An S-Corporation is not always best

Small companies are generally believed to incorporate as S-corporations. S-corporations take their name from a Congressional addition to the income tax law known as subchapter S. The S-corporation enjoying many corporate attributes (the main is that the owners of a corporation do not expose their personal assets to corporate liability), it is treated like a partnership for purposes of determining its Federal income tax liability. At the end of each fiscal year, its total earnings (or losses) are prorated to each shareholder, and these earnings (or losses) are incorporated into their individual income tax returns.

Among the advantages of the S-corporation for small business is no "double taxation" - paying an income tax on corporate net income, and then paying an individual income tax on the dividend income subsequently distributed by the corporation.

Thus, the S-corporation "generally will not be liable for federal income tax." If losses are incurred during the start-up period (or any other period), these losses can be deducted each year from the shareholders' tax returns. All income, losses, credits, and deductions are "washed through" the S-corporation at the end of each fiscal year, and carried directly to the individual tax return for each shareholder. Being emptied out at the end of each fiscal year, the S-corporation has no retained earnings account.

For most of small businesses, the S-corporation has long been the preferred corporate structure. The operational accounting is simpler, and accounting, legal, and administrative expenses are minimized. Shareholders receive the immediate benefits of earnings without "double taxation". There are sound reasons to state that this is generally the most popular corporate structure.

However, for small businesses that are growing rapidly, the conventional C-corporation status may turn out to be more preferable. The primary motivation for such a change would be the ability to retain and reinvest earnings in the expanding business.

The maximum Federal income tax rate for C-corporation is 34 percent for taxable income up to $10.0 million, whereas the maximum tax rate on S-corporation income is now the maximum individual rate of 39.6 percent. If the business is striving to retain and reinvest all possible cash during a period of strong growth, it will obviously forgo distributing cash dividends thereby avoiding the problem of "double taxation."

II. Exercises on the Text:

3. Give English equivalents to:

корпоративные свойства; личное имущество; корпоративная ответственность, задолженность по федеральным налоговым платежам; финансовый год; общие поступления (или убытки); «двойное налогообложение»; «отмываются»; заносятся прямо в индивидуальную налоговую декларацию; операционный учет; бухгалтерские расходы; управленческие расходы; немедленная прибыль от доходов; серьезные причины; способность сохранить и инвестировать; доход, подлежащий налогообложению; оно очевидно откажется от распределения дивидендов наличными; учитывая влияние амортизационных отчислений.

4. Combine the words into sentences:

1. like, its, a partnership, is, Federal, it, liability, for purposes, income, of determining, tax, treated.

2. no, among, of the S-corporation, is, the advantages, «double taxation», for small business.

3. «washed through», all income, at the end, losses, of each fiscal year, credits, and deductions, are, the S-corporation.

4. the most popular, sound, are, to state, corporate structure, there, reasons, this, that, generally, is.

5. 34 percent, up to $10 million, income tax rate, is, the maximum, for taxable income, Federal, for C-corporation.

5. Sum up what the text says about:

the advantages of the S-corporation;

the charge to conventional C-corporation.

6. US government defines a small business as one that has fewer than 500 employees. Why do you think that most small business are in the service and retail fields?

A. Transportation/Communication - taxi service, trucking, warehousing, radio station.

B. Finance - insurance, real estate, banking.

C. Wholesale - distributor, grain elevator.

D. Other - mining, landscaping, fishing, unclassified.

E. Service - motel, barber shop, advertising agency.

F. Manufacturing - machine shop, printing, brewing.

G. Retail - gas station, shoe store, restaurant, florist.

H. Construction - general constructor, plumbing and heating, electrical.

III. Grammar Exercises

Forms and Functions of Participle I.

7. Define the form of Participle I:

enjoying, being emptied out, having asked, having developed, working, having been invited, being built, living, being assisted.

8. Translate the following sentences into Russian paying attention to the forms and functions of Participle I:

Having done that, they let investors determine the risks for themselves.

The governments of 50 states have structures closely paralleling those of the federal governments.

Prices paid by consumers also include Value-Added Taxes, reflecting the costs of providing goods and services for sale.

VATs are the principal means of indirect taxation in many countries, including the member states of the European Union.

In most extreme form, chromic price increases become hyperinflation, causing the entire economic system to break down.

Being shown this document, he said it belonged to the well-known S-corporation.

Having been written the balance sheet was given to the chief executive officer.

Having been completed so carefully the material didn't need any corrections.

The trademark, a two- or three-dimensional insignia symbolizing a company or industry, dates from about the 16th century.

The agency spends most of its time planning, creating, and producing the advertising for its clients.

The Absolute Participle Construction

9. Translate into Russian:

1. With factories operating at less than capacity and unemployment at very high levels, total output of goods and services enters a long-term decline. 2. The contract having been signed, the delegation went away. 3. Time permitting, the manager writes this letter. 4. The article deals with the income tax, particular attention being paid to Federal income tax liability. 5. The terms of delivery having been discussed, he signed the contract.

10. Read paying attention to the different meaning of the following terms.

11. Translate English jokes:

Brother: Are you really going to marry that young man Jones? He is said to be kind and very clever. But isn't he a bit strange? At any rate he is unlike other young men.

Sister: I am going to marry Jones, and I don't find anything strange about him. And then if he is indeed unlike other young men, he is likely to make a very good husband.

12. Read the text and retell it in Russian:

Canada

Canada, a federated country in North America, made up of ten provinces and two (soon to be three) territories. Canada is a vast nation with a wide variety of geological formations, climates, and ecological systems. It has rain forest, prairie grassland, deciduous forest, tundra, and wetlands. Canada has more lakes and inland waters than any other country. It is renowned for its scenery, which attracts millions of tourists each year. On a per-capita basis, its resource endowments are the second richest in the world after Australia.

Canada is the second largest country in the world but has about the same population as the state of California, which is one-25th its size. This is because the north of Canada, with its harsh Arctic and sub-Arctic climates, is sparsely inhabited. Most Canadians live in the southern part of the country. More than three-quarters of them live in metropolitan areas, the largest of which are Toronto, Montreal, Vancouver, Ottawa-Hull, and Edmonton. French and English are the official languages, and at one time most Canadians were of French or English descent.

Canada has impressive reserves of timber, minerals, and fresh water, and many of its industries are based on these resources. Many of its rivers have been harnessed for hydroelectric power, and it is self-sufficient in fossil fuel. Transportation equipment is the leading manufacturing industry. While Canada's prosperity is built on the resource and manufacturing industries, most Canadians work in service occupations, including transportation, trade, finance, personal services, and government.

Canada is a parliamentary democracy, and the federal, provincial, and territorial legislatures are all elected. However, Canada's sovereign is a monarch, the queen of England, who is also the monarch of Great Britain. The queen is represented in Canada by the governor-general and ten lieutenant governors. Canada's constitution guarantees equality under the law to all of its citizens. Powers of the federal and provincial governments are spelled out separately under the constitution, but over the past 50 years they have increasingly cooperated in programs that provide a wide range of social services-often called the «welfare state»-to the public.

Modern Canada was formed in an event that Canadians call Confederation, in 1867, when three colonies of Great Britain merged to create a partially independent state of four provinces. Since then, six more provinces and two territories have been added, with a third territory scheduled to come into existence in 1999. Canada achieved full independence in 1931 but continues to belong to the Commonwealth of Nations, a voluntary association of countries with ties to Great Britain

Unit 14

Grammar: 1. Условные предложения (Conditional Sentences).

2. Бессоюзные условные предложения.

I. Language Practice

1. Practise the fluent reading and correct intonation:

- Mr. Smith, `are you `here, in `London, on va`cation or on `business?

- It's a `kind of `business trip.

- Please `tell me a `few `words about your `business.

- Well, I'm in `charge of the `advertising de`partment of the `British `branch of a big multi`national corpo`ration.

- `What does your `firm pro`duce?

- Oh, a `lot of e`quipment. We pro`duce `all `sorts of `radio e`quipment, TV sets, `video ca`ssette re`corders, com`puters and so on.

- In `what `countries does this corpo`ration main`tain its plants?

- We have `branches in France, `West `Germany, `Holland, `Italy and Spain.

- `Has your `company a big `staff?

- I'm not `sure I don't know the e`xact `number. A`round `six `thousand emplo`yees in `all the `branches, I think.

2. Listen to the speaker; read and memorize the following words and phrases:

1. to encourage [in`kri] - поддерживать, поощрять

2. taxation - налогообложение

3. merits - достоинство

4. taxpayer - налогоплательщик

5. discretionary income - дискреционный доход (часть чистого дохода потребителя, предназначенная для расходов по собственному усмотрению после обязательных расходов на налоги и на удовлетворение жизненных потребностей)

6. tax incidence - распределение налогового бремени

7. tax-shifting - переложение налогов

Text. Taxes, Taxes, Taxes....

"But in this world nothing can be said to be certain, except death and taxes."-Benjamin Franklin, 1789.

Few economic topics excite controversy more easily than taxes. While most would agree that neither government nor modern society could survive without them, taxes are more likely to be criticized than praised. But as Benjamin Franklin noted long ago they are a ' certainty, and for that reason we ought to know something about them.

Why Do Governments Collect Taxes? Although the principal purpose of taxes is to pay for the cost of government, it is not the only function taxes serve.

Sometimes taxes are levied to protect selected industries.

Taxes have also been used to discourage activities the government believes to be harmful. For example, taxes on cigarettes and liquor, so called "sin taxes," have been levied both to raise money and to discourage people from smoking and drinking.

Taxes have been used to encourage certain activities. In the 1980's, for example, the government wanted to encourage business to modernize plants and increase productivity. It did so, in part, by offering to reduce the taxes of firms that purchased new machinery and equipment.

The federal government can use its ability to tax to regulate the level of economic activity. The size of the economy is directly related to consumer and business spending. By increasing or decreasing taxes, government can directly affect the amount of money available to be spent.

Evaluating Taxes. Most people would agree that some taxation is necessary, but the question of which taxes, and in what amounts, can lead to considerable disagreement.

The benefits-received principle of taxation states that those who benefit from a government program are the ones who ought to pay for it.

The ability-to-pay principle states that taxes ought to be paid by those who can best afford them, regardless of the benefits they receive. In arguing in favor of the ability-to-pay principle, economists often cite Engel's Law. This principle states that as income increases, the proportion spent on luxuries increases, while that spent on necessities decreases. It follows that taxing higher-income groups may deny them certain luxuries, but taxing the poor reduces their ability to buy necessities.

Also, some benefits are indirect. If Mr. and Mrs. Jones have children in the public school, they can see the direct benefit of their school taxes. But Mr. and Mrs. Smith may feel they get no benefit from the school because they have no children.

We all benefit from having an educated workforce, however. Thanks to education, the nation's productivity is higher, and we can all share in the additional output that results from it. If the Smiths own a business, they benefit from having workers who have been trained to read, write and solve mathematical problems.

Most taxes can be classified as progressive, proportional or regressive. A progressive tax takes a larger percentage of a higher income and a smaller percentage of a lower income. The federal income tax is the best known example of a progressive tax.

A proportional tax takes the same percentage of all incomes, regardless of size.

A regressive tax is one that takes a higher percentage of a low income and a lower percentage of a high income. Although they are not based on a person's income, sales taxes have a regressive effect because they take a larger share of earnings from a low-income taxpayer than from a high-income taxpayer.

Which tax is the fairest? Few would argue that a regressive tax is fair. Those who favor the ability-to-pay principle would support a progressive tax, and possibly the proportional tax. There are some, however, who argue that the proportional tax is not fair.

The proportional tax seems to be fair because everyone pays the same rate. In analyzing the impact of taxes on individuals, economists often concentrate on discretionary income-the amount that a person has left after buying necessities (food, clothing, shelter, medical care, transportation, etc).

In evaluating a tax it is important to know who will really have to pay it, or, as economists put it, the incidence of the tax. The burden of paying a tax can be avoided if the one responsible for writing the check for taxes to the government can pass the cost on to someone else. The process of passing the burden to someone else is known as tax-shifting. Taxes may be passed on to consumers, in which case they are said to be shifted forward. Similarly, taxes may be shifted backward as when suppliers or the workers who produced the products are forced to assume the burden.

II. Exercises on the Text:

3. Give Russian equivalents to:

nothing can be said to be certain; neither government nor modern society; they are a certainty; we ought to know; to pay for the cost of government; to protect selected industries; to discourage harmful activities; to encourage certain activities; the merits of one tax to another; benefits-received principle; ability-to-pay principle; educated workforce; a larger percentage; sales taxes; the burden of paying a tax.

4. Complete as in the text and translate into Russian:

1. Few economic topics excite controversy ... 2. The Federal government can use its ability to tax ... 3. By increasing or decreasing taxes, government can directly affect ... 4. The benefits-received principle of taxation states that those who benefit from a government program are the ones ... 5. The ability-to-pay principle states that taxes ought to be paid by those who can best afford them, ... 6. If Mr. And Mrs. Jones have children in the public school, they can see ...

5. Analyze the scheme and describe the circulation flow of the American Economy.

The Circular Flow of the American Economy Among Government, Consumer Households and Business Firms.

6. Think and answer the following questions:

1. What are the principal taxes you and your family pay? 2. Add the sales taxes, property taxes, value added taxes, and other together to determine what percentage of your family's income is actually spent in taxes.

III. Grammar Exercises

Условные предложения (Conditional Sentences)

7. Make up as many sentences as you can using the given table:

8. Translate the following sentences:

1. Steven Jobs reasoned that if computers were made easier to use and less expensive, the public would buy them. 2. If you wanted to buy or sell corporate securities, you would probably call upon the services of a local brokerage firm. 3. If the corporation prospers over the years, its stocks will increase in value. 4. If the population were to grow at a faster rate than production, average living standards would fall. 5. If the public prefers to buy now and save later, less will be available for investment. 6.If a firm sought to muximize its losses, it would be unable to pay its bills. 7.If a country consumes everything that it produces, the ability of that country to produce in the future will remain unchanged. 8. If, however, something is set aside out of current production, it could be used as capital to produce more in the future.

9. Read the text and retell it in Russian:

A Balance Sheet on Russian Taxes

Taxes, in any country other than a limited number of tax haven jurisdictions, are viewed universally as a burden. Russia is no exception. OF course, a tax system that imposes a 35 percent individual tax rate and a 35 percent corporate rate (with even higher rates for certain types of businesses) will never be praised by its taxpayers. Moreover, with frequent changes and a set of tax rules different from those in the United States, Russian tax laws are viewed with great apprehension by most Americans and other foreigners doing business in Russia. Russian tax rules certainly have major drawbacks.

Other problems with Russian taxes include too many types of taxes, both on the federal and on the local level. This multitude of taxes not only makes compliance difficult, but also makes it challenging to keep current with changes and amendments. Add to the confusion presidential decrees which append taxes onto existing law or modifying existing laws, as well as the wide variety of taxes that may be enacted at the local level. Additionally, there are five different payroll taxes on top of the individual income tax that must be withheld by employers from wages paid to employees.

Russia will never be a tax haven, nor have American and other foreign businesses come to Russia with that expectation. Rather, companies doing business in Russia have come here because they feel that Russia presents certain market opportunities.

In criticizing Russia's tax rules and tax administration, we should not forget that Russia is a relatively new tax jurisdiction. Russian tax laws (as with all other laws in Russia) are in a process of evolution. The same is true of the governmental bodies enforcing the tax laws.

As a step to facilitate the obtaining of double-tax treaty relief, the Russian tax authorities have issued new dual language (English/Russian) forms. The new forms for claiming double-tax treaty relief from tax withholding can be completed in either Russian or English. This development has made it easier for foreign companies, at least from English-speaking jurisdictions, to obtain certification of taxpayer status from their home jurisdictions in order to claim treaty relief in Russia.

On May 8, 1996 President Yeltsin signed a decree making additional improvements in Russian tax rules. The decree reduces late payment penalties from 0.7 percent per day to 0.3 percent per day. Other provisions in the decree provide for more rapid periods for depreciation of capital assets (to be effective January 1, 1997) and much broader rules for the deductibility of business expenses (also to be effective January 1, 1997).

Complaints about the Russian tax system, just like complaints about the American tax system, will never go away. However, over the past year there have been many positive development in Russian tax laws and regulations. More important, at both the government and legislative levels in Russia, there appears to be growing recognition that tax rules should be changed so as not to stifle economic activity. Although the tax situation in Russia is far from ideal, there is a genuine basis for hope for improvement.

10. Read and translate paying attention to the suffixes:

-let [lit]; -sure, zure []

circle - circlet (кружочек)

book - booklet (книжечка, брошюра)

leaf - leaflet (листок, листовка)

pleasure, exposure, measure, seizure.

11. Arrange in groups the words with the same prefix:

Independence, unfriendly, disbelieve, unknown, dislike, immaterial, unproductive, incomplete, unequal, illegal, impossible, irregular, untrue, inactive, irreplaceable, misunderstanding, illiterate, mispronunciation.

Страницы: 1, 2, 3, 4