B Public financeThe 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 (also known informally as the dole), disability allowances and student grants (to help pay for studying). 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.
Ex.6. Answer the following money quiz. 1. What currencies are used in Japan, Australia, India and Russia? 2. What does the expression, 'hard currency', mean? 3. Name two credit cards which are usable world-wide. 4. Give two examples of imports that most countries impose customs duties on. 5. Give three examples of kinds of income that would be classed as unearned. 6. What is the Dow Jones index and what are its equivalents in London and Japan? 7. Give an example of something that is priceless and something that is valueless. 8. Name the coins and banknotes used in your country and one other country.
Ex.7. Match the words on the left with their definitions on the right.
Ex.8. Complete the sentences with the correct preposition. 1 You shouldn't waste your money.......... expensive holidays. 2 Banks don't like lending money.......... small businesses. 3 You can change your euros.......... dollars at any Bureau de Change. 4 It's a good idea to invest money.......... stocks and shares. 5 Banks charge high interest rates when you borrow money.......... them. 6 Why not leave some money.......... charity in your will?
Ex.9. Write A (= have money) or B (= not have money) next to each these expressions. 1 I'm a bit short of cash today. 2 The Jacksons live from hand to mouth. They simply can't make 3 Luanda' s very well off. 4 Peter can't afford to pay the rent this month. He' s very hard up. 5 We're quite comfortable. 6 Are you in debt? 7 Mr. and Mrs. Johnson are very wealthy. 8 He's a multi-millionaire. 9 She inherited millions (an oil-heiress). 10 They won a fortune. 11 She's got more money that sense. 12 They’ re made of money. 13 You're looking very prosperous. 14 They say we' re living in an affluent society. 15 He's comfortably off. 16 Money doesn't buy happiness, but it helps. 17 I' m a bit hard up at the moment, actually. 18 I' m down to my last ten p. 19 He' s broke. 20 They' re on the breadline. 21 I haven't got a penny to my name. 22 I'm afraid we're bankrupt, gentlemen. 23 Now I know what it's like to be poverty-stricken. 24 I' m running into debt. 25 I owe money everywhere. 26 I' m a few thousand in the red. 27 I' m up to my ears in debt.
Ex.10. Mark the correct preposition in each pair. 1 Asha borrowed a camera to / from Alex. 2 Will you lend the car to / from us for the weekend? 3 The company owes its success to / from its excellent training programme. 4 You're spending too much money to / on food. 5 Mike's wasting most of his money on / into clothes, 6 Ella paid some money on / into her bank account. 7 Carl changed his money in / into Euros. 8 We've made a lot of money from / by computer games. 9 I've got no money by / on me. 10 When Sue died, she left her money at / to her brother.
Ex.11. Read the following statements. Say if you agree / disagree on a scale of 1-5 (5 = strongly agree, 1 = strongly disagree). 1 Money is too important to people nowadays. 2 Everyone should give 5% of their income to charity. 3 You should never borrow or lend money. 4 Money should be saved not spent. 5 Credit cards should be banned.
Ex.12. Paraphrase the sentences using your active vocabulary: 1 What's the value of your ring? (3 var.) 2 A friend wants to go to an expensive restaurant but you don't have enough money. 3 I would like to borrow money from you. 4 The level of money and comfort people have is high in this country. 5 I bought the CDs but I never play them. I think I used my money badly. 6 I'm not going there again – they asked me to pay £ 2 for a cup of coffee! 7 I never keep some of my money when I receive it. 8 He worked too much and got too little. 9 I’ll return the money that I borrowed from you. (2 var.) 10 They bought a new car a month ago. 11 If you invest money now, in several years you will get much more. 12 I sold my house getting much more money than I had paid on buying it. 13 We were not so successful in business. We lost money on the deal. 14 This house is mine. I have it as my property.
Ex.13. Translate into English: налог, проценты, наличные, сдача, гонорар, плата за проезд, пенсия, плата за квартиру. 1. Он даже не пытался скопить (откладывать) деньги. 2. Люди, которые были ему должны, не смогли вернуть ему деньги. 3. Рене покупал лотерейные билеты по пять франков каждый. 4. Через два года вы получите большую прибыль и удвоите свои деньги. 5. Она очень выгодно продала свою машину. 6. Боюсь, вы не сможете оплатить этот счет. 7. Он миллионер! 8. Она унаследовала миллионы. 9. Он очень богат. (3 вар.) 10. Я весь в долгах. (3 вар.) 11. У меня нет ни копейки. 12. Он выглядит процветающим. 13. Курс валют сегодня: 1 доллар = 8 грн. 25 коп. 14. На что вы потратили все деньги? 15. В этой стране высокий жизненный уровень.
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