UNIT 4

DIRECT AND INDIRECT TAXES

A. READING COMPREHENSION
I. Understanding a printed text:
Now look at these questions
1. How many kinds of taxes are dealt with in the text? What are they?
2. What are direct and indirect taxes?
Read the passage through and find the answers to the questions. Remember you do not have
to understand every word to answer them.
Money provided by taxation has been
used by governments throughout history to
carry out many functions. Governments use
taxes to fund welfare and public services
including education systems, health care
systems, pensions for the elderly,
unemployment benefits, and public
transportation. A portion of taxes also go to
pay off the state's debt and the interest this
debt accumulates. Governments use different
kinds of taxes and vary the tax rates. This is
done to distribute the tax burden among
individuals or classes of the population
involved in taxable activities, such
as business, or to redistribute resources
between individuals or classes in the
population. Taxes may be classified into two
groups – direct and indirect taxes.

A direct tax is imposed on a person, a household, or an enterprise with the expectation that
that taxpayer will bear the tax burden and not be able to recover it by passing it on to someone
else. The individual or organization upon which the tax is levied is responsible for the fulfillment
of the tax payment. The leading examples of direct taxes are income taxes and profit taxes. In
industrial market economies, the individual income tax, the tax on persons or households, plays
an important role in raising revenue and in effecting the distribution of income among income
categories. Usually the lowest incomes are not subject to the income tax and incomes above that
level are assessed at progressive tax rates, i.e. rates that rise as the size of the income grows larger.
The purpose of a progressive income tax is to lessen the inequality of incomes that arises from
operation of the market system.
 Indirect taxes are taxes imposed on consumers of goods and services, or on enterprises with
the expectation that the taxes will be passed on to customers in the form of higher prices. The tax
payer who pays the tax does not bear the burden of tax; the burden is shifted to the consumers.
Important examples of indirect taxes are excise taxes, which are selective taxes on particular goods
or services such as cigarettes or beer, and import duties and various forms of turnover taxes or
sales taxes of broad coverage. All indirect taxes have the function of raising revenue and diverting
purchasing power from households and enterprises to the state.

II. Check your understanding:

Read the text carefully and decide if the following statements are TRUE or FALSE.
1. Money provided by taxation has been used by governments throughout history to fund
welfare and public services except health care systems. F
2. Distribution of the tax burden among individuals or classes of the population involved in taxable
activities can be done by using different kinds of taxes and varying the tax rates. T
3. Direct taxes are taxes imposed on consumers of goods and services. F
4. An indirect tax may increase the price of a good so that consumers are actually paying the tax
by paying more for the products. T
5. In the case of a direct tax, the taxpayer has to bear the burden of tax personally; in case of
indirect tax the taxpayer and the tax bearer are not the same person. T
6. Income taxes and excise taxes are the leading examples of direct taxes. F
7. Anyone who can earn money has to pay income tax and the more he or she earns, the higher
income tax rate he or she has to pay. F
8. Progressive tax rates can help to solve the problem of inequality of incomes that arises from
operation of the market system. T
9. The only function of indirect taxes is raising revenue. F

III. Increase your vocabulary:

Find words and phrases in the first paragraph of the text that have the closest meaning to the
followings.
carry out
1. to implement ………………..
fund
2. to provide with money ………………..
3. a regular sum of money paid to a retired worker ………………..
pension

in return for past services or contributions

debt
4. money owed to someone ………………..
accumulates
5. grows by way of regular additions ………………..

B. LANGUAGE FOCUS: Reduced Relative Clauses

Study these sentences from the text
- Money provided by taxation has been used by governments throughout history to carry
out many functions
- Governments use taxes to fund welfare and public services including education
systems, health care systems, pensions for the elderly, unemployment benefits, and public
transportation
1. We use a present participle phrase to reduce an active clause.
Capitalism resolves the central questions which face society by the interaction of buyers
and sellers in markets.
→ Capitalism resolves the central questions facing society by the interaction of buyers and
sellers in markets
2. We use a past participle phrase to reduce a passive clause.
When the price of a good goes down, the quantity which is demanded rises, and the quantity
which is supplied falls.
→ When the price of a good goes down, the quantity demanded rises, and the quantity
supplied falls.
3. We can also use an infinitive phrase to reduce a relative clause.
The relationship between price and demand is an important economic issue that we have to
study.
→ The relationship between price and demand is an important economic issue to study.
PRACTICE
Task 1: Circle the best answer
1. Income tax is the tax ………… on wages and salaries.
A. collecting B. that collected
C. collected D. which collects
2. Businesses …………. to or anticipate the material desires of households will make the most
profit.
A. that best responding B. best responded
C. that best respond D. best respond
3. At the equilibrium price, the plans of the buyers and the plans of the sellers are the same.
Suppliers provide the amount ………….. by consumers.
A. demanded B. demanding C. that is demanded D. A & C
4. The economist …………..you told us about yesterday has just written a new article about
inflation.
A. whom B. that C. X D. A, B & C
5. In socialism, central planning is used to deal with the basic economic questions ……………….
socialist societies.
A. that facing B. that faces C. facing D. faced
6. In capitalism, the what question is answered by consumers as they spend their dollars for the
goods and services ………….. they most desire.
A. X B. where C. who D. whose
Task 2: Reduce relative clauses in these sentences.
1. The first problem that needs to be discussed in the meeting today is how to keep the rate of
inflation low and stable in the coming years.
2. VAT or value added tax is a tax that is paid on most goods and services when they are bought
and purchased.
3. Income is the flow of money that is earned or collected during a given period, including wages
and salaries, interest payments, rental income, and profits from business.
4. Intervention is a neutral term that describes governmental action in the economy.
5. Austerity is a word that is used to describe economic policies and measures which are designed
to reduce inflation, the quantity of imports, government spending, and so on.
6. Infrastructure refers to all the services such as roads, railways, electricity, telephones, etc that
exist in developed countries.
C .WRITING: Making a definition using a relative clause
Task 1: Choose the correct information in column B and C to describe the words and phrases
in column A and make a full sentence by using relative clauses. The first one has been done as
an example.
A B C
1. Equilibrium price an economic a. the quantity demanded and the quantity
system supplied meet.
2. Inflation a tax b. imposed on people’s incomes and companies’
profits.
3. Mixed economy a period c. the market is regulated by the law of supply
and demand.
4. Planned economy an economic d. production and consumption quotas are fixed
system beforehand.
5. Recession the price e. prices for consumer goods increase and the
value of money or purchasing power decreases.
6. Free market an economic f. some goods and services are produced by the
economy condition government and some by private enterprise.
7. Direct tax an economic g. economic activity (spending, investment) falls
system and unemployment rises.
1. Equilibrium price is the price at which the quantity demanded and the quantity supplied meet.
2.......................................................................................................................................
3.......................................................................................................................................
4.......................................................................................................................................
5.......................................................................................................................................
6.......................................................................................................................................
 7.......................................................................................................................................
Task 2: Rewrite the following sentences in a more formal style.
Instructions
Spoken or informal written English Formal written English
-Please send us the report (that/which) you - Please send us the report to which
referred to. you referred.
- We attached some information about the - We attached some information about
area (that/which) you will be responsible the area for which you will be
for. responsible.
• In spoken English or in informal written English, we usually leave out who/that/which and put
preposition at the end of the relative clause.
• In formal written English, we often put the preposition in front of which/whom.
• We cannot use that after a preposition.
• After a preposition, we use the form whom, not who.
1. As a leader, she motivated anyone she worked with.
........................................................................................................................................
2. The representatives we spoke to were very helpful.
........................................................................................................................................
3. The company I used to work for is now facing a financial crisis.
........................................................................................................................................
4. That is the project I’m most interested in.
........................................................................................................................................
5. The problems we have to deal with are rather serious.
........................................................................................................................................
6. Here are the details of the businesses we’ve invested in.

D. LISTENING: Listening for specific information

Task 1. You are going to listen to a lecture about how a government increases revenue.
Listen to the first part of the lecture and decide whether the following statements are TRUE or
FALSE
1. Usually, income tax has different rates to make the system as fair as possible, especially for
people with high incomes. F low income
2. Income tax usually provides the government with a large proportion of its revenue. T
T 3. In Britain, stamp duty is a special form of tax which is paid when buying a house 4. VAT is
simply an extra tax added to the price of an item, such as clothes, cosmetics, household articles,
etc. T
5. You have to pay VAT on all foods and most people dislike it. F

6. VAT can help a government to increase revenue easily. T

 7. Governments can also get money from fees for different documents, such as passports, visas. T
Task 2. Listen to the second part of the lecture and fill in the blanks
property tax
Most people have to pay a form of (1)…….., either domestic or commercial. In the UK,
property tax is called council tax and is based on the size of the house. It is calculated locally. This
makes it fairer because property prices vary in different parts of the UK. Business property is taxed
diferent rate at a (2)…….. from domestic houses and low business property taxes can encourage expansion.
PAY TAX Businesses also have to (3)………. at a special national rate. Of course, this tax can be a
ON THEIR PROFITS problem if the tax is much lower in one country than in others and businessmen often complain
FAIR that the competition is not always (4)………. in such situations.
Finally, the UK government obtains revenue through National Insurance Contributions, or
NICs, which are not really taxes. People who work pay a (5)…………. as NICs, usually about
(6)……….. of their salary. However, these payments also fund the National Health Service, and
provide unemployment or child benefit. NICs also help to provide (7)……….. for people when
they retire from work. So, it is understandable that governments want to have the maximum
amount of revenue. But it is equally understandable that people complain a lot about taxation!.
Task 3: Complete the diagram showing how a government increases revenue by using
information from the listening above.

Government revenue

7.
1.income tax-
National Insurance Contributions different rates

6.
2.
VAT
business tax
REVENUE

3.
5. stamp dutus
4.
property tax fee

E. SPEAKING: Making Questions

Teachers can ask students some questions to check their understanding. In the tables are
questions and answers for the first part of the listening above.
Task 1: Match A and B to make questions and choose an answer in C for each question.
A B
What 1. do rich people always complain about?
 Can 2. is duty?
Why 3. is stamp duty paid in Britain?
When 4. does VAT stand for?
Do 5. are there different rates of income tax?
6. you list the sources that help a government to increase its revenue?
7. most people like VAT?
8. is the main idea of the listening?

C
a. How a government increase its revenue
b. They are income tax, duties, VAT on goods, fees, property tax, corporation or business tax
and National Insurance Contributions.
c. To make the system as fair as possible
d. They always complain about high tax rates.
e. It is a special form of tax which a government places on certain items such as tobacco,
petrol, alcohol.
f. when buying a house.
g. It stands for Value Added Tax
h. No, they don’t.

1. …..…. 2……… 3……… 4………. 5….…… 6……… 7……… 8………

Task 2: Work in pair to practice the questions and answers.

Task 3: Do the same for the second part of the listening.

REVIEW QUESTIONS
1. What is the main difference between direct and indirect taxes? Give examples for each kind.
2. How can taxes be collected? What is the money provided by taxation used for?
1. Tax evasion still exists in most countries in the world despite different measures to prevent it.
What might be done to reform this massive loss of revenue?
2. In what ways can relative clauses be reduced? Give an example for each?
VOCABULARY
accumulate v [ə'kju:mjuleit] chất đống, tích luỹ, gom góp lại
arise v [ə'raiz] xuất hiện, nảy sinh ra, xảy ra, phát sinh
excise tax phr ['eksaiz tæks] thuế hàng hóa
bear adj [beə] chịu; chịu đựng
broad adj ['brɔ:d] rộng
lessen v ['lesn] làm giảm bớt
coverage n ['kʌvəridʒ] mức độ một vật được bao phủ
[di'rekt; dai'rekt]
direct tax phr thuế trực thu
[tæks]
distribute v [di'stribju:t] phân bổ; phân phối; phân phát
làm trệch đi; làm trệch hướng; làm chuyển
divert v [dai'və:t]
hướng
enterprise n ['entəpraiz] công ty hoặc hãng kinh doanh, xí nghiệp
(sự) mong chờ; (sự) trông mong (điều gì sẽ
expectation n [,ekspek'tei∫n]
xảy ra)
fulfillment n [ ful'filmənt] sự hoàn thành
function n ['fʌηk∫n] chức năng
fund v [fʌnd] cấp tiền cho (một hội, một đề án....); tài trợ
tất cả những người cùng sống trong một
household n ['haushould]
ngôi nhà; hộ gia đình
impose v [im'pouz] đánh (thuế...) ai/cái gì; áp đặt
indirect tax phr [,indi'rekt tæks] thuế gián thu
individual adj [,indi'vidjuəl] một mình, riêng lẻ, cá thể
inequality n [,ini:'kwɔliti] sự không bằng nhau; sự không bình đẳng
làm cho mắc míu (vào chuyện gì); làm liên
involve (in) v [in'vɔlv]
luỵ, làm dính líu, làm dính dáng
leading adj ['li:diη] dẫn đầu, nổi bật
lessen v ['lesn] giảm bớt
levy v ['levi] thu (thuế)
operation n [,ɔpə'rei∫n] sự hoạt động
pay off v ['peiɔ:f] thanh toán hết, trả hết (nợ, tiền lương,…)
pension n ['pen∫n] lương hưu
portion n ['pɔ:∫n] phần chia
progressive [prə'gresiv
phr thuế thu nhập lũy tiến
income tax 'inkʌm tæks]
public
phr ['pʌblik 'sə:vis] dịch vụ công cộng
service
purpose n ['pɜ:pəs] mục đích, ý định
responsible adj [ri'spɔnsəbl] chịu trách nhiệm
thuế do người mua lẻ hàng hoá phải trả; thuế
sales tax phr ['seilz'tæks]
mua hàng
shift v [∫ift] chuyển
tax burden phr [tæks'bɜ:dn] gánh nặng về thuế
tax payer phr [tæks 'peiə] người trả (chịu, nộp) thuế
thuế do người mua lẻ hàng hoá phải trả; thuế
turn over tax phr [tə:n'ouvə tæks]
mua hàng
khác nhau, không giống nhau, thuộc về
various adj ['veəriəs]
nhiều loại
vary v ['veəri] thay đổi, biến đổi, đổi khác
 UNIT 5
CENTRAL BANKS

A. READING COMPREHENSION
I. Understanding a printed text:
Now look at these questions
1. What are the two main ideas of the reading text?
2. What are the basic roles of the State Bank of Vietnam?
Read the passage through and find the answers to the questions. Remember you do not have
to understand every word to answer them.

There are four functions of a central bank. The first one is actually to implement monetary
policy. There are roughly three ways to do it. First, setting interest rate ceilings and floors, which
means limiting, upwards or downwards, the fluctuations of the interest rate. The second way to
implement monetary policy is simply printing money, or destroying it – coins, banknotes. The
third one which is a bit more modern is those open-market operations, which are simply buying
and selling government bonds to and from commercial banks.
So that is the first main task of a central bank. The second one is exchange rate supervision,
mainly for floating exchange rates but one should not forget that even for a fixed exchange rate
the central bank still has to make sure that it has enough reserves to counteract any upswing or
downswing of this exchange rate.
The third main task is the commercial bank supervision. The commercial banks have enough
liquidities, for instance, to avoid any bank run. The bank run is a sort of, kind of panic, a situation
in which investors or simply customers of the banks run to the bank and take their money out
because they realize or they think they realize that their bank is not trustworthy any more. And to
avoid this actually, the central bank has to make sure they have a sufficient liquidity ratio, for
instance.
The fourth main task of the central bank would be to act as a lender of last resort in case,
actually, one of these commercial banks goes bankrupt and the investors, the people putting money
in the bank, have to get back their money.
Central Bank of Vietnam: Functions and roles
The State Bank of Vietnam is the central bank of Vietnam. The State Bank of Vietnam is
a ministry-level body under the administration of the government; the bank governor is a member
of the cabinet (equivalent to a minister in the cabinet). The governor is nominated by the prime
minister subject to the approval of the National Assembly (Parliament). Vice governors are
appointed by the prime minister on the recommendation of the governor. Both governor and vice
governors serve a 5-year term. The State Bank of Vietnam defines its principal roles as:
1. Promote monetary stability and formulate monetary policies.
2. Promote institutions’ stability and supervise financial institutions.
3. Provide banking facilities and recommend economic policies to the government.
4. Provide banking facilities for the financial institutions.
5. Manage the country’s international reserves.
6. Print and issue banknotes.
7. Supervise all commercial banks’ activities in Vietnam. Lend the state money to the
commercial banks.
8. Issue government bonds, organize bond auctions.
9. Be in charge of other roles in monetary management and foreign exchange rates

II. Check your understanding:

Now read the text carefully, then answer the following questions.
1. How many functions of a central bank are there? What is the first function?
2. What is the second main task of a central bank?
3. What is a bank run?
4. How can the bank avoid bank run?
5. What is the official name of the central bank of Vietnam?
6. How long is the serving term of the bank governor and vice governors?

III. Increase your vocabulary:

Answer the following questions.
1. What does the bold and underlined word “it” refer to?
2. How can the word “investors” in the 4th paragraph be defined?
3. Find the words in the text that have the same meaning as:
a. deal with (in the 2rd paragraph)
b. for example (in the 3rd paragraph)
c. withdraw money (in the 3rd paragraph)
4. Find the words in the text that have the opposite meaning to:
a. old – fashioned (in the 1st paragraph)
b. borrower (in the 4th paragraph)
5. Name two types of money appearing in the first paragraph of the text.
B. LANGUAGE FOCUS: -ING FORM AND INFINITIVES
Examples: The second way to implement monetary policy is simply printing money, or
destroying it – coins, banknotes.
Study the underlined phrases, they are two forms of verb: infinitives (to implement) and –
ing form (printing money , destroying it).

I. Infinitives
Infinitives are the "to" form of the verb. The infinitive form of "learn" is "to learn".
You can use an infinitive as the subject, the complement, or the object of a sentence.
Examples:
• To learn is important. subject of sentence
• The most important thing is to learn. complement of sentence
• He wants to learn. object of sentence
Infinitives can be made negative by adding "not."
Examples:
• I decided not to go.
• The most important thing is not to give up.
When infinitives function as the object of a sentence, they often go after other verbs.
1. Some verbs require the full infinitives (with “to”) followed.
Example: She wants to open a bank account.
These include:
advise choose learn plan tell decide agree manage
want would like offer promise seem expect afford hope
2. Some verbs require the bare infinitives (without “to”) followed.
Example: They make us stand in a queue.
These include: make let have
Infinitives are also used to show purpose.
Example: This morning, I went to the bank to withdraw the money.

II. –ing form:

The –ing form of the verb can be functioned as gerunds or present participles.
1. Present participle: is used in the following ways:
a. as part of the continuous form of a verb
Example: They are building a new commercial bank in this area.
b. after verbs of movement/position in the pattern: verb + present participle
Examples: She went shopping
He lay looking up at the clouds
 She came running towards me
This construction is particularly useful with the verb 'to go', as in these common expressions:
to go shopping to go walking
to go ski-ing to go swimming
to go fishing to go running
to go surfing to go dancing

c. after verbs of perception in the pattern: verb + object + present participle

• I heard someone singing.
• He saw his friend walking along the road.
• I can smell something burning!
d. as an adjective: amazing, worrying, exciting, boring.
• It was an amazing film.
• It's a bit worrying when the police stop you
• Racing cars can go as fast as 400kph.
• He was trapped inside the burning house.
e. with the verbs spend and waste, in the pattern:
verb + time/money expression + present participle
Examples:
• My boss spends two hours a day travelling to work.
• Don't waste time playing computer games!
• They've spent the whole day shopping.
f. in reduced relative clauses
Example: A man is walking down the street. He is a bank clerk.
→ The man walking down the street is a bank clerk.
2. Gerunds: A gerund is a noun made from a verb by adding "-ing." The gerund form of the verb
"read" is "reading." You can use a gerund as the subject, the complement, or the object of a
sentence.
Examples:
• Reading helps you learn English. subject of sentence (gerund as subject is third
personal singular)
• Her favorite hobby is reading. complement of sentence
• I enjoy reading. object of sentence
Gerunds can be made negative by adding "not."
Examples:
• He enjoys not working.
• The best thing for your health is not smoking.
When gerunds function as the object of a sentence, they often go after other verbs.
Example: She dislikes working after 5 p.m.
 These include:
like love can’t wait dislike hate mind avoid practise
suggest can’t stand can’t help consider mention risk finish keep
Gerunds as nouns can also follow:
- possessive forms such as his, her, its, your, their, our, John's, Mary's, the machine's.
I enjoyed their singing.
- prepositions: He is thinking about studying abroad.
3. Gerunds or Infinitives
Some verbs can be followed by a gerund or an infinitive, but with a difference in meaning.
These include:
remember regret forget need stop try
Example: He stopped to smoke. / He stopped smoking.
Some verbs can be followed by a gerund or an infinitive with little difference in meaning.
These include:
like love start begin
Example: I started to read. / I started reading.
PRACTICE:
Task 1: Find the infinitives and the –ing form in the reading text and put them into the correct
rows:
as Subject
Infinitives

as Complement E.g. The first one is actually to implement monetary policy.

as Object
show purposes
as present participle
as gerund
-ing
fom

Task 2: Infinitives or –ing form?

1. Bill agreed (meet) us at the restaurant at 8:30, but he never showed up.
2. Jennifer practiced (pronounce) the word until she sounded just like a native speaker.
3. Dana hopes (save) enough money to travel around Europe for three months. It's her dream.
4. (Dance) is her life. That is why Susan moved to New York to study dancing professionally.
5. Constance plans (take) part in the marathon next spring.
6. I can't help (wonder) how my grandmother's life would have been different if she had been able
to go to college.
7. (Swim) helped me strengthen my injured leg.
8. After the tsunami, Bette chose (stay) in Indonesia and work with a relief organization.
Task 3: In these sentences, two of the verbs are possible, and one is incorrect. Circle the two
correct verbs.
1. He …………….to review our quality procedures.
A. promised B. delayed C. wanted
2. I …………improving reliability.
A. undertook B. suggested C. recommended
3. I ………….to meet the Quality Director.
A. decided B. didn’t mind C. arranged
4. She ………….to check the large order.
A. refused B. put off C. failed
5. We ………. to invest in new machinery.
A. consider B. hope C. plan

C. WRITING: Describing trends

Task 1: Look at the headlines from the business pages of different newspapers. Match the
headlines with the phrases below. There are two headlines for each phrase.
a. fall sharply c. rise sharply e. remain constant
b. fall slightly d. rise slightly

Task 2: Look at the graph and fill

in the blanks in the report on CD
sales at Save-O-Mart discount
stores. Use the words in the box.
rose
rose slightly
sharply
fell
fell slightly
sharply
remained
constant

CD sales were very uneven last year. In April sales (1)…………….from $1.5 million to $3.5
million. In May they (2)…………..to just over $3 million. In June sales (3)………….but
(4)……………in July to just under $1.5 million. In August, they (5)……………… to $ 2 million.
Task 3: Now use the graph below to write a short report on footwear sales. Use the report in
Task 2 to help you.
…………………………………………
…………………………………………
…………………………………………
…………………………………………
…………………………………………
…………………………………………
…………………………………………
…………………………………………
…………………………………………
…………………………………………
…………………………………………

D. LISTENING: Table completion

Task 1: The table A below shows the preferences of American women for male or female bosses
Table A: “Do you prefer a male or a female boss?”
Women’s answers (%)
Male Female No preference
Today 42 22 35
1993 44 29 24
1982 52 15 30
Complete this summary of table A, using the verbs in the box. Use each verb once, and put
it in the correct form – present perfect or past simple, as in the example.
increase rise go down be go up
decrease start prefer fall have
a. The number of women who prefer to have a male boss (1)has gone down by 10% since
1982. Between 1982 and 1993 the number (2)…………….by 8% and in the last few years
it (3)……………. by another 2%.
b. Since 1982, the number of women who prefer a female boss (4)…………….In 1982, only
15% (5)……………a woman. In 1993, the number (6)…………….. to 29% but recently
it (7)……………to fall again.
c. 30% of women (8)………….no preference in 1982, but there (9)……………..a fall in
numbers to 24% in 1993. Since then, the number (10)………….to 35%.
Task 2: Listen to this preparation of table B, and complete the missing figures.
Table B below shows the preferences of American men for male or female bosses
 Table B: “Do you prefer a male or a female boss?”
Men’s answers (%)
Male Female No preference
Today (2)____ (4) _______ 52
1993 (1)____ 16 49
1982 40 (3)________ (5)________

E. SPEAKING: Figure description

Task 1: Work individually. Draw a graph showing the sales results of a company in 2012
on a separate sheet of paper.
Task 2: Work in pairs. Each student in turn describes the sales figures to his/ her partner.
The partner listens and marks the sales results on this graph. Use the language from the Writing
part.

REVIEW QUESTIONS
1. In your opinion, what is the most important role of the Central Bank in a nation’s economy?
2. What are the similarities and differences in the functions of “-ing” form and infinitives?
3. How can economic records/ figures be presented visually?
VOCABULARY
administration (n.) [əd,minis'trei∫n] sự quản lý, quản trị, sự thi hành
bank run (n.) [bæηk rʌn] hiện tượng đột biến rút tiền gửi trong
ngân hàng
bankrupt (n.) ['bæηkrʌpt] sự vỡ nợ, phá sản
go bankrupt (v) vỡ nợ
bond (n.) [bɔnd] kỳ phiếu, tín phiếu, trái phiếu
bond auction (n.) [bɔnd 'ɔ:k∫n] đấu thầu trái phiếu
cabinet (n.) ['kæbinit] nội các, chính phủ
downswing (n.) ['daʊnswiη] sự đi xuống, sự tụt lùi, chiều hướng suy
thoái
downwards (adv.) ['daunwədz] hướng xuống, đi xuống
fluctuation (n.) [,flʌktju'ei∫n] sự dao động
formulate (v.) ['fɔ:mjuleit] tạo thành, đưa ra
implement (v.) ['implimənt] thi hành, thực hiện
issue ['isju:] đưa ra, phát hành, lưu hành
liquidity (n.) [li'kwiditi] khả năng thanh toán bằng tiền mặt
liquidity ratio (n.) [li'kwiditi 'rei∫iou] phần trăm khả năng chi trả, tỉ số khả
năng thanh toán (phần tài sản có thể
chuyển thành tiền mặt mà ngân hang hối
đoái phải giữ để hoàn trả các khoản tiền
gửi theo yêu cầu)
nominate (v.) ['nɒməneit] chỉ định, bổ nhiệm
monetary policy (n.) ['mʌnitəri 'pɔləsi] chính sách tiền tệ của ngân hàng trung
ương
promote (v) [prə'məʊt] xúc tiến, đẩy mạnh
resort (n.) [ri:'zɔ:t] phương kế, phương sách, kế sách
reserve (n.) [ri'zə:v] sự dự trữ, đồ dự trữ
stability (n.) [stə'biləti] sự ổn định, trạng thái ổn định
upwards (adv.) ['ʌpwəd] hướng lên, đi lên
upswing (n.) ['ʌpswiη] sự tăng tiến, sự tiến bộ, xu hướng đi lên