Exercise 2: Answer the following two questions. 1. “Spending priorities” refers to the following situation:
Americans are spending so much of their income on ever larger houses and cars that they can’t afford to spend on social programs or infrastructure repairs. 2. By doing so, one would feel happier, would have fewer disputes of work and lower levels of stress hormones in their blood. One gets sick less often and dies at an older age. B: Summary:
Mr. Cox, the vice president of the Federal Reserve Bank of Dallas,…, of Myths of Rich and Poor, sees the positive side to the increased prosperity of … Americans are better off than they were 30 years ago. Here … :
Technological … created hundreds of gadgets that … both easier and more pleasurable, for example, cellular and cordless phones, computers, answering machines, and microwave ovens; Today … about 3/4 have washing machines, half have clothes dryers, 97% have color televisions, 3/4 have VCRs, 2/3 have microwaves and air conditioners, 3/4 own their own automobile, 40% own their own home, half have stereo systems. Part 5 Do you know …?
A. Tokyo, Osaka, Oslo, Zurich. Hong Kong, Copenhagen, Geneva, Paris, Reykjavik, London B. 1. The euro has appreciated against the US dollar. 2. Persistent economic turmoil. 3. Tehran. 4. The Economist team checks prices of a wide range of items—from bread and milk to cars and utilities—to compile this report. 5. Business clients use it to calculate the amount of allowances granted to overseas executive and their families.
Unit 4 Loans for the Dream
Part 1 Getting ready B: Dialogue One. Items Eating out Hobbies Food and groceries
√ √ √ Items Antiques √ Dialogue Two: Items Entertainment Depreciation Secretarial expenses … Motor expenses Audit & accountancy costs Telephone & postage A: Summary
Mr. Jackson … in the college… As… worth repairing, he … . Since… about a hundred pounds for …, … , three hundred fifty to four hundred….
The bank … different interest rates and conditions: a Personal Loan and an Ordinary Loan. Mr. Jackson is expected to repay the money with 24 months. B. Personal Loan Ordinary Loan 1. 透支额（贷款）overdraft 2. 偿还 repay
3. 短期贷款（业务）lenders in the short term 4. 付利息 pay interest on 5. 担保物 collateral 6. 寿险 life policy
7. 房屋的房契 deeds of the houses 8. 政府证券 Government Securities 9. 凭证 certificate
10. 按日计算 on a day-to-day basis Part 3 Housing in the U. S. A. A. Outline 1. A. cost of housing 1. 1/4-1/3 of a family’s income 2. depending on size and location Security charge … Interest rate charged 7% 7.5%(1.5%+6%) Interest rate … A day-to-day basis Same √ Up √ √ √ down √ √ figures 2566 2612 Part 2 Raising money for buying a car
× √ B. way to buy a house—mortgage 2. B. easy to get things repaired 3. Buying … 1. mortgage: … 2. condominium: …
B. 1. Home buyer borrows money from Bank sells mortgages to Fannie Mae sells
shares and mortgage-based securities to Investors 2. They control about half the home loans in America. 3. Hiding changes in its value, poor supervision and not carefully reporting its finances. 4. The stock price of Fannie Mae has dropped. Part 4 More about the topic A: 1. a. merchantable quality b. fitting for particular purpose/ seller c. as described 2. no / retailer’s responsibility/ take to shop 3. item/ too large/ fragile 4. evidence of purchase/ date of purchase 5. go to court / sue the seller B. 1. F
2. T
3. F
4. F
Part 5 Do you know …?
B: Chart 1 Development of the idea of national taxes Time/ Number
April 15th
Chart 2 Composition of federal money in 2002
7%— income tax on businesses Over 40— personal income tax Below 18%— other taxes, including customs 35%— taxes for retirement programs and other services 1791 1794 1913
Events
the last day to pay federal taxes tax on whiskey and other alcoholic drink, farmers refused George Washington, 13000 troops, defeated the Whiskey Rebellion people’s pay taxed by Congress, but rejected by the Supreme Court The 16th Amendment passed, legal for Congress to tax income no income tax The late 1800s
More than $312000 taxed at 35%, highest rate Less than $7000
Unit 5 Briefing on Taxation and Insurance Policies
Part 1 Getting ready B. Sentences a b c d e C.
Dialogue one 1. ￡30 000 24% Dialogue two
1. A brand new video was stolen. 2. Yes. The speaker paid the premium last week. Dialogue three Similarities a. b. A mortgage to pay c. Same income Part 2 Briefing on personal taxation A.
Outline A. rates 1. lower rate: up to ￡23 700: 25% 2. higher rate: above ￡23 700: 40% B. allowances
1. single person: ￡3295 2. married person: ￡5015 3. pension: maximum 17.5% to 40% 4. mortgage interest relief: 7% 2. Collection of personal tax A. income tax — PAYE 1. Structure of personal taxation Differences Man A a. b. Never saving money c. Spending more on entertaining Man B a. Investing far more in pension schemes. b. Spending more on insurance 2. overdraft
3. sailing Key words 8000/half 2000/twice 2000/double 8000/a quarter 4000/similar Answers 4000 4000 ～4000 ≤2000 ～4000 B. National Insurance 1. employee’s contribution: 9% 2. employer’s contribution: 5% to 10% B. 1. According … both simple and relatively low. 2. The new … opt for separate taxation. 3. The tax … pension is 40% 4. PAYE stands for Pay As You Earn. The scheme … from the employer before … bank transfer to the employee. 5. Taxable income … deduction and the allowance have been excluded. Part 3. Should I buy an insurance policy?(1) A. insurance policy save money buying a house B. 1. A. a fixed objective in mind/ how much to pay each month B. a fixed objective each month in mind/ how much to produce over some years 2. No/ regular & systematic/ short-term/ bank/ Building Society Part 4 More about the topic A. unmarried
Answer the question with key words
A. accumulate capital/ expand business/ end of term B. saving to produce a pension Part 5 Do you know … ? 1. T
2. F
3. F
4. T
5. T
dependents
no need Unit 6 Visions of Business
Part 1 Getting ready B. Scale Ownership Individual proprietorship Small property of the business Responsibility The proprietor is responsible for the business Limited partners have A board of directors limited responsibilities; Full partners have full responsibilities. controls the corporate policies and appoints top officers. Partnership Small into business together Corporation Big share of the ownership The proprietor owns all the Two or more people go Investors own stock—a