NAME AND SURNAME........................................................................ COURSE.................................................

DATE.................................................

TEST 1. Match the definitions on the left with the letter of the term on the right 1. A sustained increase in the general price level. An increase 2. 3. 4. 5. 6. 7. 8. 9.
in the price level over some defined time period. ....... A market condition where the quantity demanded of a particular good or service exceed the quantity available. ..... Long term (10+ years) debt instrument. .... The tax that companies pay on their profits. ... The income people have left after they have paid their tax... The purchase of a good or asset not intended for final consumption but rather in the expectation of future sale at some higher price... Any income that is not spent, but put aside.... a currency other than the reporting currency of an entity.... interest and other expenses incurred by an entity in connection with the borrowing of funds.

10.

to fail to do something, such as pay a debt, that you legally have to do...

SHORTGAGE DISPOSABLE INCOME SAVINGS FOREIGN CURRENCY SPECULATION BORROWING COSTS INFLATION DEFAULT ON
CORPORATION TAX

BOND

2. Write the word which fits the definition

a) When you take out more money than is available in your account, sending the account into a negative balance .................................. b) Association between a manufacturer or wholesaler (franchiser) and an independent business person (franchisee) who buys the right to own and operate a unit in the franchise system. f................... c) If you default on repaying your mortgage your home may be .................................... d) A person or organization that supplies goods to shops and companies:...................... e) The price of money. It is the extra proportion that has to be paid when borrowing money or the extra that a saver receives when putting their money aside for the future. ................................. ................. f) The antonym of demand ................................... g) I need to take .......... a loan h) the illegal buying and selling of company shares (= a financial part of the ownership of a company) by people who have special information because they are involved with the company............. ............. i) not having enough money to pay debts, buy goods, etc. (adj) ....................................... j) My credit card was ....................because I didnt pay my credit card bills.

3. What do these abbreviations (acronyms) stand for? PA............................... EGM..................................... AGM................................... dept. ........................................ PR......................................... VIP ........................................... HR........................................ ASAP ....................................... 4. Define the following words (expressions) or write synonyms Auditor Pre-tax profitPrincipalTax evasionArmed robberyCo-signerTo be delinquent in repaying your loan TellerPetty cash (crime)Fixed5. Choose the correct answer

1. A measure of the wear and tear that affects capital equipment or other intermediate goods is called Depreciation amortization writing off 2. A decline in the aggregate price level over some defined time period is called a Inflation depreciation deflation 3. Workers claimed damages .......... their injury. Because for from 4. The defendant ......................guilty to robbery with violence. States pleaded applied 5. Peter Smith ........................... against his wife because she had been unfaithful. Took a case started a case brought a case 6. Your sickness pay ...............is 30 days in any calendar year. Entitlement right period 7. This credit card allows you to ................. up to 200 a day from cash dispensers. Take out reimburse withdraw 8. I need to ............................ my tax return. Fill in for file for apply for 6. Match the letters in the box with the definitions
pto., Joint venture, profit margin, stagnation, velocity of circulation ., R&D, exchange rate, devaluation, RSVP, lease, Government expenditure or spending (G), Inc., Cash refund offer , gross investment , to begin to lose your touch, ETA, 1. Estimated time of arrival 2. Incorporated, used after the name of a company organized as a legal corporation (= a group of people acting as one), especially in business: 3. Please turn over 4. repondez s'il vous plait (please reply 5. Research and development 6. A way of entering a foreign market by joining with a foreign company to manufacture or market a product or service. 7. Offer to pay back part of the purchase price of a product to customers who send a "proof of purchase" to the manufacturer. 8. The number of times a euro is spent, or turns over, in a specific period of time. Velocity affects the amount of economic activity 9. Investment that includes additions to the capital stock as well a the replacement of depreciated capital. 10. The value of a domestic currency expressed in terms of a foreign currency or basket of foreign currencies. 11. Lowering of the value of a countrys currency relative to the currencies of other nations. When a nation devalues its currency, the goods it imports become more expensive, while its exports become less expensive abroad and thus more competitive 12. Government capital expenditure and Government current expenditure 13. Profit as a percentage of turnover (or sales). It shows how profitable the firm is. The higher the margin the better. 14. This term refers to a negative level of economic growth - the economy shrinking. If this only happens in the short-term it may be called a recession. 15. to make a legal agreement by which money is paid in order to use land, a building, a vehicle or a piece of equipment for an agreed period of time 16. start to make mistakes