Task 4. Read & decide if the following statements are true or false.

1. The American economy is a free enterprise system that has emerged from the efforts of thousands of private business people; and from the activities of government officials at all levels.

2. Together, all sectors of the American economy produce almost $2,000 million dollars worth of goods and services annually.

3. . Most Americans consider themselves members of the rich economic class.

4. The government plays an important role in the economy, as is the case in all countries.

5. Approximately 60 percent of the students who graduate from secondary schools attend colleges and universities.

6. The bulk of American’s wealth is produced by private industries and business.

7. America has traditionally supported free trade.

8. Careers in technical, business and health- related fields have particulary experienced employee fall down in recent years.

Task 5.Complete the sentences using the following words:

canal system, consumption, insures, purity, attend, free trade, public funds, health- related, industries, employee.

1. The ________of these goods and services is spread widely.

2. It financed the first major_______ and later subsidized the railroads and the airlines.

3. It checks the _______of food and drugs,_______ bank deposits and guarantees loans.

4. Approximately 60 percent of the students who graduate from secondary schools ________ colleges and universities, 77.2 percent of which are supported by _______.

5. America has traditionally supported _______.

6. American _______ have become increasingly more service - oriented.

7. Careers in technical, business and _______ fields have particulary experienced _______ growth in recent years.

Task 6. Make up the sentences.

1. emerged from/ is a free enterprise system/ that has/ the American economy/ American workers/ the labors of millions of

2. almost $4,000/ together/ of the American economy/ services annually/ all sectors of/ million dollars worth/ produce/ of goods and

3. the middle economic class/ most Americans/ themselves/ consider/ members of

4. an important role/ as is the case in/ the government/ all countries/ plays/ in the economy

5. a higher education/ the United States/ the percentage of/ receives/ leads the world in/ the population that

6. in recent years/ careers in technical/ fields/ health- related/ experienced employee/ business and/ growth/ have particulary

7. work force/ constitute/ half of America’s/ now/ more than/ women/ total

Task 7. Make up the questions to the text.

Task 8. Choose the correct verbs from the boxes to complete the passage. Remember to use the Past Simple tense.

be, sell, establish, grow, import, have

find, decide, begin, become

achieve, be able to, have to, supply

be, be, win, set up, launch, start

The history of NISSAN in the UK

Nissan established a small trading company in 1969. It _____ cars from Japan and ______ them in the UK. The company only _____ 0.2% of the market in 1970 but it _____ fast. By 1974 it _____ the UK’s leading car importer.

When the UK ____ a major export market, Nissan _____ to build an assembly plant. After a long search it _____ a suitable site in Tyne and Wear. Cars _____ rolling off the production line in 1986.

At first, the plant _____ limit production because of the JAMA import restriction agreement. But by 1988 UK companies _____ the majority of components and Nissan _____ the target of 60% local content. The plant _____ increase production.

In 1991 Nissan _____ a new distribution company and it _____ operations in January 1992 with a network of 150 dealers. By the end of the year there _____ 267. Nissan _____ the Micra (March) in 1993 and it _____ the European Car of the Year Award. It _____ the first Japanese-badged car ever to win.

Task 9. Act the dialogue.

The VAT man will be calling!

The end of the financial year approaches at Coopers Limited. The VAT return is due and despite the immaculate record keeping of Accounts Manager, Elaine Walker, the figures are not looking good. The VAT inspector is due in seven days’ time and both Eric Wolton, the Managing Director, and Elaine are going over the accounts.

Eric: What’s the figure here?

Elaine: That is the total for output VAT – all the VAT we’ve added to our outgoing invoices to customers.

Eric: And this one?

Elaine: That represents the input total – all the VAT we’ve paid on goods and services that we’ve bought.

Eric: There’s quite a big difference between them: &22,900 in outputs and &13,455 in inputs. This mean we already owe more VAT than we’re claiming back.

Elaine: Yes, and that’s not the worst of it. The problem is that output VAT becomes payable to Customs and Excise the instant we raise an invoice, not when we receive payment for that invoice.

Eric: What about bad debts? Surely they don’t attract VAT?

Elaine: In this case, a debt is only considered bad when it’s still not settled after six months. So if our debts are only four months old, Customs and Excise still expect the money.

Eric: What percentage of the &22,900 have we received payment on?

Elaine: &22,900 VAT represents sales of &130,857. We have invoiced our customers &153,757 of which &22,900 is VAT at 17.5%. To date we’ve only received &59,820 which represents &10,476 VAT.

Eric: So, offsetting output VAT of &22,900 against input VAT of &13,445, we now owe the taxman &9,455, irrespective of whether our debts have been paid or not?

Elaine: Exactly.

Eric: I’d better get on to that bank manager again!