Assignments

1. Suggest the Ukrainian equivalents

to obey safety requirements; governments take a larger/smaller share; to make the economy inefficient; measures of government spending; interest on the national debt; total spending; to allocate resources between competing demands

2. Replace the parts in italics by synonyms

it's generally declared; managers of factories must obey the requirements; Government directly influences what is produced; to bring up a question; to collect taxes; Government's expenditure is financed by imposing taxes.

3. Find the terms in the text, which describe the following:

* money paid to people without asking for a service in return

* money paid to people when they stop working

* money paid to people who have no work

* money owed by the government of a country

* money received by governments from taxation

* money a worker keeps after paying taxes

4. Using the information in the text, say if these statements are correct or incorrect

* Governments do not make free transfer payments.

* Food stamps are an example of a transfer payment.

* Most government income comes from borrowing.

* Japan raises more taxes than Italy.

* Japan spends very little on defence.

* The poor get more of what is produced through taxation and transfer payments.

* Governments do not affect how goods are produced.

* Nobody questions the scale of government economic activity.

* Many people believe that high taxes result in people not wanting to work so hard.

5. Fill in the gaps with the words and expressions from the text

1. Having mentioned the effect of government __ on the income distribution, it's necessary to examine in greater detail the role of the government in society.

2. Government expenditure is chiefly financed by __ taxes.

3. Italy's government spending is large and it needs to __ correspondingly large tax revenues.

4. These differences in the scale of government activity relative to __ reflect differences in the way different countries allocate their resources among __ uses.

5. By taxing the rich and making transfers to the poor, the government __ that the poor are allocated more of what is produced than would otherwise be the case.

6. Managers of factories and mines must __ safety requirements.

7. Offices and factories are __ in attractive residential parts of the city.

8. __ of government activities in the modern economy is highly controversial.

9. Different __ will certainly affect the questions what, how and for whom.

10. A large government sector makes the economy inefficient, reducing the number of goods that can be __ allocated to consumers.

11. __ that high tax rates reduce the incentive to work.

12. Welfare payments and unemployment benefit are more likely to reduce __ to work since they actually contribute to __.

6. Find in the text English equivalents for the following

пенсії за вислугу років; допомога по безробіттю; продовольчі картки (талони); оподатковувати; урядові позики; податкова політика уряду; розподіл доходів; переводні (трансфертні) платежі; стягувати податки; збирати податкові надходження; прийнято вважати (за загальним твердженням); зменшувати зацікавленість у роботі; цільовий (плановий) чистий доход після сплати податків.