Test for third year students
Текст 1: Money (стр. 67-68)
A) Goods were too expensive to swap.
B) It
was inconvenient because you had to find someone who wanted what you had.
C) It
required the use of metal coins.
D)
People did not trust each other.
A) circulate faster than modern money.
B) be
used as a unit of account more easily than fiat money.
C) store
value over time.
D) be
produced by anyone.
A) How tasty the commodity is.
B) How
rare the commodity is.
C) How
easily the money can circulate or be carried around.
D) How
much the government guarantees its value.
4. Why does fiat money (modern coins and notes) have value?
A) Because it is made from rare metals.
B)
Because it has high intrinsic value.
C)
Because its value is guaranteed by the government.
D)
Because it is difficult to create.
A) Commodity money is used for bartering, while fiat money is not.
B)
Commodity money has inherent value, while fiat money represents value.
C)
Commodity money is issued by governments, while fiat money is not.
D)
Commodity money is more liquid than fiat money.
2. True or False (Верно / Неверно). Justify
your answer citing the text.
2. One
of the advantages of bartering was that all goods held their value for a very
long time.
3. Salt
and metals like copper and gold are examples of fiat money.
4.
Commodity money is considered a good unit of account because everyone always
agrees on its exact value.
5. Fiat
money has no intrinsic value but is valuable because its worth is guaranteed by
the government.
Текст 2: Fiscal policy (стр. 72-73)
B)
Government spending and the exchange rate.
C)
Changes to the tax system and changes in government spending.
D)
Public projects and private investment.
2. Under
a progressive taxation system, what happens as a person earns more money?
B) They
pay a higher percentage of their income in tax.
C) Their
personal allowance increases.
D) They
stop paying tax.
B) The
percentage of income paid to the government.
C) The
amount of income a person can keep without paying tax on it.
D) The maximum
amount a person can earn.
B) By
decreasing the personal allowance or increasing the tax percentage.
C) By
printing more money.
D) By
building more motorways.
B) How
an initial amount of government spending can lead to a larger total increase in
national income.
C) How
inflation multiplies the cost of public projects.
D) How
companies multiply their profits during a recession.
B) When
inflation reaches 2%.
C) When
there is full employment and the nation's resources are fully used.
D) When
the personal allowance is increased.
2. True or False (Верно / Неверно). Justify your answer citing the text.
2.
Income tax is a minor source of income for most governments.
3. In a
progressive tax system shown in the text, someone earning £25,000 pays 22% tax
on their income after their personal allowance.
4. To
slow down a rapidly growing economy, a government would typically reduce taxes.
5. The
multiplier effect works because companies and workers spend some of the money
they earn from government projects, creating income for others.
Текст 1: Money
ОтветитьУдалить1. Multiple Choice
1. B
2. C
3. C
4. C
5. B
2. True or False
1. True
2. False
3. False
4. False
5. True
Текст 2: Fiscal policy
1. Multiple Choice
1. C
2. B
3. C
4. B
5. B
6. C
2. True or False
1. True
2. False
3. True
4. False
5. True
1.1
ОтветитьУдалить1b
2c
3c
4c
5b
2.1
1 true Before money was invented, people used a system called bartering. Bartering is simply swapping one good for another.
2 false The second problem with bartering is that many goods don’t hold their value. For example, you can’t keep your milk for a few months and then barter it.
3 false
4 false There’s another problem with commodity money: not everyone may agree on the value of the commodity which is used as money. If you live by the sea, salt may not be so valuable to you.
5 true The solution is to create a kind of money that does not have any real intrinsic value, but that represents value. This is called fiat money... their value is guaranteed by the government.
1.2
1c
2b
3c
4b
5b
6c
2.2
1 true Fiscal policy is one of the tools that governments have to keep the economy on a steady path.
2 false Income tax is one of the biggest sources of income for a government.
3 true
4 false If the economy is growing too fast... the government will want to slow down spending. To do this, they can decrease the personal allowance, or they can increase the percentage to pay in tax.
5 true Companies and workers on the motorway project will save some of the money they earn, but also spend some. The money they spend will be income for others in the economy.
1)
ОтветитьУдалить1. B
2. C
3. C
4. C
5. B
2)
1. True
2. False
3. False
4. False
5. True
Второй текст
1)
1. C
2. B
3. C
4. B
5. B
6. C
2)
1. True
2. False
3. True
4. False
5. True
1) Текст «Money»
ОтветитьУдалить1. B
2. C
3. C
4. C
5. B
2) True or False (money)
1. True:
Before money was invented people used a system called bartering. Bartering is simply swapping one good for another.
2. False:
The second problem with bartering is that many goods don't hold their value.
3. False:
Examples were metals like copper, bronze and gold and other useful goods like salt. These are examples of commodity money.
4. False:
There's another problem with commodity money: not everyone may agree on the value of the commodity which is used as money.
5. True:
The solution is to create a kind of money that does not have any real intrinsie value, but that represents value. This is called fiat money. More importantly, their value is guaranteed by the government.
3) Текст «Fiscal policy»
1. C
2. B
3. C
4. B
5. B
6. C
4) True or False «Fiscal policy»
1. True:
Fiscal policy is one of the tools that governments have to keep the economy on a steady path.
2. False:
Income tax is one of the biggest sources of income for a government.
3. True (picture).
4. False:
If the economy is growing too fast, and demand for goods and services is more than the economy can supply the government will want to slow down spending. To do this, they can decrease the personal allowance, or they can increase the percentage to pay in tax.
5. True:
Companies and workers on the motorway project will save some of the money they earn, but also spend some. The money they spend will be income for others in the economy.
Text 1
ОтветитьУдалить1.
1)b
2)c
3)c
4)c
5)b
2.
1)true
2)false
3false
4)false
5)true
Text 2
1.
1)c
2)b
3)c
4)b
5)b
6)c
2.
1)true
2)false
3)true
4)false
5)true
Текст 1
ОтветитьУдалить1.
1)b; 2)c; 3)c; 4)c; 5)b
2.
1)T
2)F
3F
4)F
5)T
Текст 2
1.
1)c; 2)b; 3)c; 4)b; 5)b; 6)c
2.
1)T
2)F (Income tax is one of the biggest
sources of income for a government.)
3)T
4)F (If the economy is growing too fast, and demand for goods and services is more than the economy can supply the government will want to slow down spending. To do this, they can decrease the personal allowance, or they can increase the percentage to pay in tax)
5)T
Текст Money
ОтветитьУдалить1. Multiple Choice:
1) b
2) c
3) c
4) c
5) b
2. True or False:
1) True
2) False
3) False
4) False
5) True
Текст Fiscal policy
1. Multiple Choice:
1) c
2) b
3) c
4) b
5) b
6) c
2. True or False:
1) true
2) false
3) false
4) false
5) true
Текст 1
ОтветитьУдалить1)
1. B
2. C
3. C
4. C
5. B
2)
1. True
2. False
3. False
4. False
5. True
Текст 2
1)
1. C
2. B
3. C
4. B
5. B
6. C
2)
1. True
2. False
3. True
4. False
5. True
Текст Money
ОтветитьУдалить1.
1)b
2)c
3)c
4)c
5)b
2.
1) True. Before money was invented people used a system called bartering. Bartering is simply swapping one good for another.
2) False. The second problem with bartering is that many goods don't hold their value.
3) False. Examples were metals like copper, bronze and gold and other useful goods like salt. These are examples of commodity money.
4) False. There's another problem with commodity money: not everyone may agree on the value of the commodity which is used as money.
5) True. The solution is to create a kind of money that does not have any real intrinsie value, but that represents value. This is called fiat money. More importantly, their value is guaranteed by the government.
Текст Fiscal policy
1.
1)c
2)b
3)c
4)b
5)b
6)c
2.
1) True. Fiscal policy is one of the tools that governments have to keep the economy on a steady path.
2) False. Income tax is one of the biggest sources of income for a government.
3) True
4) False. If the economy is growing too fast, and demand for goods and services is more than the economy can supply the government will want to slow down spending. To do this, they can decrease the personal allowance, or they can increase the percentage to pay in tax.
5) True. Companies and workers on the motorway project will save some of the money they earn, but also spend some. The money they spend will be income for others in the economy.
Это Марият
УдалитьТекст 1 Money
ОтветитьУдалить1.
1) B
2) C
3) C
4) C
5) B
2.
1) True (Bartering is simply swapping one good for another)
2) False (Many goods don’t hold their value, milk example )
3) False ( These are examples of commodity money)
4) False (Not everyone may agree on the value of the commodity)
5) True ( Notes don’t have any inherent value … their value is guaranteed by the government)
Текст 2 Fiscal policy
1.
1) C
2) B
3) C
4) B
5) B
6) C
2.
1) True (Fiscal policy is one of the tools that governments have to keep the economy on a steady path)
2) False (Income tax is one of the biggest sources of income for a government)
3) True ( on picture )
4) False (To slow spending, government decreases personal allowance or increases tax percentage)
5) True (The money they spend will be income for others in the economy) (multiplier effect)
Текст 1 : Money
ОтветитьУдалить1.Multiple Choice
1-B
2-C
3-C
4-C
5-B
2.True or False (money):
1-True
2-False
3-False
4-False
5-True
Текст 2:Fiscal policy
1.Multiple choice
1-C
2-B
3-C
4-B
5-B
6-C
2.True or False:
1-True
2-False
3-True
4-False
5-True
Money
ОтветитьУдалитьMultiple Choice:
1–B, 2–C, 3–C, 4–C, 5–B
True/False:
1–T, 2–F, 3–F, 4–F, 5–T
Fiscal policy
Multiple Choice:
1–C, 2–B, 3–C, 4–B, 5–B, 6–C
True/False:
1–T, 2–F, 3–T, 4–F, 5–T
Текст 1:
ОтветитьУдалитьЗадание 1:
1)B
2)C
3)C
4)C
5)B
Задание 2:
1)TRUE
2)False
3)False
4)False
5)True
Текст 2:
Задание 1:
1)C
2)B
3)C
4)B
5)B
6)C
Задание 2:
1)TRUE
2)False
3)true
4)false
5)true
Текст 1 Money
ОтветитьУдалить1.Multiple choice
1.b
2.c
3.c
4.c
5.b
2.True or false
1.true
2.false
3.false
4.false
5.true
Текст 2 Fiscal policy
1.Multiple choice
1.c
2.b
3.c
4.b
5.b
6.c
2.True or false
1.true
2.false
3.true
4.false
5.true
Текст 1: Money
ОтветитьУдалитьЗадание 1
1. B
2. C
3. C
4. C
5. B
Задание 2
1. True
2. False
3. False
4. False
5. True
Текст 2: Fiscal policy
Задание 1
1. C
2. B
3. C
4. B
5. B
6. C
1. True
The text states that fiscal policy is one of the tools governments use to keep the economy on a steady path.
2. False
The text states that income tax is one of the biggest sources of income for a government, not a minor one.
3. True
According to the table, an income of £25,000 falls into the £2,000–£29,999 bracket, where the tax rate after the personal allowance is 22%.
4. False
To slow down economic growth, the government decreases the personal allowance or increases the tax percentage, not reduces taxes.
5. True
The text explains that companies and workers spend some of the money they earn from government projects, and that spending becomes income for others, creating the multiplier effect.
Текст 1: Money
ОтветитьУдалить1. Multiple Choice
1. B
2. C
3. C
4. C
5. B
2. True/ False
1. True
2. False
3. False
4. False
5. True
Текст 2: Fiscal policy
1. Multiple Choice
1. C
2. B
3. C
4. B
5. B
6. C
2. True/False
1. True
2. False
3. True
4. False
5. True